Stablecoin platform Rain has secured $58 million in a Series B funding round, led by Sapphire Ventures.
Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest also participated in this round, which follows just five months after Rain’s Series A funding. The stablecoin sector is gaining momentum, spurred by increased enterprise interest in stablecoins after the introduction of the Genius Act in the US and the MiCA framework in Europe, both of which have established a clearer regulatory landscape for adoption.
Rain’s platform enables enterprises, neobanks, and developers to use stablecoins instantly and compliantly through global payment cards, wallets, and cross-border payment solutions. As a Visa Principal Member, Rain issues cards that function anywhere Visa is accepted, allowing purchases in over 150 countries.
The company reports a tenfold increase in transaction volume since January 2025, with partners like Nuvei, Avalanche, Dakota, and Nomad utilizing its infrastructure for diverse applications, including merchant payouts and cross-border payroll.
The new funding will be directed towards expanding the platform, entering new markets, and enhancing its engineering, commercial, and compliance teams. CEO Farooq Malik stated, “In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, now working across any border, platform, and currency.”