Rain Raises $250 Million, Valuation Hits $1.95 Billion

Rain secures a $250 million funding round led by ICONIQ, boosting its valuation to $1.95 billion and expanding stablecoin-linked payments globally.

Rich by Coin

2026-01-10

Stablecoin firm Rain has just raised another $250 million. The firm now has a $1.95 billion valuation. New York-based Rain, a company backed by Visa that issues spending cards, said that it had brought its total funding to over $338 million, just four months after its Series B and 10 months after its Series A. The latest round was led by ICONIQ with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed and Galaxy Ventures, Rain said.

This latest raise helps us: 🌍 Expand licensing across 5 continents

🧱 Deepen our stack (see: Uptop + Fern acquisitions)

🚀 Launch new products that make stablecoins feel like any other payment

“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” Farooq Malik, the firm’s CEO and co-founder, said in a statement. He added that in the last year, the firm’s active card base had increased thirtyfold and that the company’s annualized payment volume has increased by 38 times. Rain provides companies with the infrastructure to issue stablecoin-linked debit cards so that the digital tokens can be “instantly usable anywhere Visa is accepted.”