On January 9, 2026, Rain, a stablecoin platform and principal member of the Visa payment network, announced a new Series C funding round.
The company secured $250 million from investors, including ICONIQ, Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst.
The latest investment values Rain at $1.95 billion and puts its total raised funds above $338 million.
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The new capital is intended to support Rain as it brings its stablecoin-powered payments services to additional markets in North America, South America, Europe, Asia, and Africa.
Rain reported an increase in its active card base by 30 times over the past year and said annualized payment volume had grown 38 times during the same period.
The company provides solutions for over 200 business partners and manages yearly transactions exceeding $3 billion. Its infrastructure is built for use cases ranging from daily payments to business operations.
The company’s end-to-end payments platform enables firms to offer stablecoin-linked Visa cards, wallets, direct payment options, on-ramps, and payouts through a single provider. Transactions using Rain’s solutions can occur anywhere Visa functions.
Farooq Malik, who leads Rain as CEO and co-founder, shared that the surge in user numbers and volume inspired the company to extend its infrastructure to more regions and help other firms activate and expand their payment offerings quickly.
OpenEden recently completed a strategic funding round and received support from several venture capital firms and institutional investors. What did the company say? Read the full story.
