Rain raises 250 million USD, valued at nearly 2 billion USD

Rain stablecoin payment company just announced the completion of a new funding round worth 250 million USD, raising its valuation to approximately 1.95 billion USD. The funding round was led by ICONIQ Capital, with participation from major investors such as Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Lightspeed Venture Partners, and Galaxy Ventures.

After this round, the total capital raised by Rain has exceeded 338 million USD, reflecting strong investor interest in stablecoin-based payment solutions. Rain provides infrastructure that enables businesses to issue cards and process payments using stablecoins, aiming to seamlessly connect cryptocurrency with traditional financial systems.

The new capital is expected to be used by Rain to scale its global operations, develop products, and strengthen legal compliance, as stablecoins are increasingly seen as a crucial bridge between traditional finance and blockchain.