Rain Raises $58M Series B Led By Sapphire Ventures to Become the Enterprise Stablecoin Platform of Record
Rain has experienced 10x growth in 2025 and now powers service to 1.5B+ people through a single integration
NEW YORK, Aug. 28, 2025 /PRNewswire/ — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced 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 — cementing Rain’s role as the single integration global fintechs, banks, and marketplaces use to launch compliant stablecoin-powered cards, wallets, and payment programs.
Enterprise interest in stablecoins has surged following 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 has pioneered making stablecoins instantly usable anywhere Visa is accepted through its physical and virtual card programs, processing millions of transactions across 150+ countries. The company’s transaction volume has grown 10x since January 2025, 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.”
Rain 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 Rain team as they redefine the future of payments,” said Jai Das, President and Partner at Sapphire Ventures, as well as Rain’s newest Board Director.
The new funding will be used to expand Rain’s platform and services to give global institutions the most flexible, modular, and compliant stablecoin infrastructure available. The company is also investing in hiring across engineering, commercial, and compliance teams; helping existing partners scale programs; and entering into new markets where enterprises are embracing stablecoin-based payment workflows.
About Rain: Rain is the global stablecoin infrastructure platform for enterprises, neobanks, platforms, and developers. Our technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 100 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world. Learn more at https://www.rain.xyz/.
About Sapphire Ventures: Sapphire is a global software venture capital firm with over $11 billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For more than two decades, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.
Media Contact:
Lucas Piazza
Marketing Lead, Rain