Rain, an enterprise-grade infrastructure for stablecoin-powered payments, has secured a $58 million Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. The raise brings Rain’s total funding to $88.5M and comes just five months after the company’s Series A.
Enterprise interest in stablecoins has surged following the introduction of the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption. Rain’s vertically integrated platform enables partners to embed stablecoins into products and operations, covering money-in, storage, spending, and money-out, all through one API. Partners can compliantly launch programs to over 1.5 billion people today, with expansion underway into Europe, the Middle East, Africa, and Asia-Pacific.
Rain helps make stablecoins instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across more than 150 countries. The company’s transaction volume has grown tenfold since January, with portfolio partners — including Nuvei, Avalanche, Dakota, and Nomad — using Rain’s infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.
“Stablecoins are shifting to the backbone of global commerce,” said Farooq Malik, CEO and co-founder of Rain. “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”
The company is a Visa Principal Member and uniquely settles 100% of card payment volume directly in stablecoins on the Visa network. The platform is built natively for stablecoins, not retrofitted from fiat rails, and meets enterprise compliance standards, including PCI DSS, SOC 2, and audited smart contracts.
“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce. We’re proud to partner with Farooq, Charles, and the team as they redefine the future of payments,” said Jai Das, president and partner at Sapphire Ventures, and Rain’s newest board director.
The new funding will be used to expand the platform, services, and staff count.
