Rain, a supplier of enterprise-grade stablecoin funds infrastructure, has raised $250 million in a Sequence C funding spherical.
Abstract
- Rain raised $250 million in a Sequence C spherical led by ICONIQ, valuing the stablecoin funds firm at $1.95 billion and bringing complete funding to over $338 million.
- Rain’s platform allows companies to launch compliant stablecoin playing cards, wallets, and payouts, at the moment processing over $3 billion yearly for 200+ companions, together with Western Union and Nuvei.
- The funding will assist growth into key markets throughout North America, South America, Europe, Asia, and Africa.
ICONIQ led the trouble. Different buyers equivalent to Sapphire Ventures, Dragonfly, Bessemer Enterprise Companions, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst additionally joined.
The spherical values the corporate at $1.95 billion and brings its complete funding to over $338 million.
The funding comes simply 4 months after Rain’s Sequence B and 10 months after its Sequence A, highlighting fast investor curiosity in stablecoin-based fee options.
Rain’s platform permits enterprises to launch compliant stablecoin playing cards and wallets, course of payouts, and convert fiat into stablecoins, all whereas sustaining a well-recognized consumer expertise. The corporate at the moment facilitates greater than $3 billion in annualized transactions for over 200 companions, together with Western Union, Nuvei, and KAST, and reaches over 2.5 billion potential customers globally.
CEO Farooq Malik stated the funding will assist growth into North America, South America, Europe, Asia, and Africa, permitting Rain to deliver its infrastructure to new markets and assist enterprises scale shortly.
ICONIQ Accomplice Kamran Zaki famous that Rain’s full-stack know-how, regulatory readiness, and real-world scale place it to outline the default enterprise platform for tokenized cash.
Rain plans to make use of the capital to reinforce its funds platform, pursue strategic acquisitions, and spend money on new merchandise that make stablecoin funds seamless for companies and customers.
Wachtell, Lipton, Rosen & Katz served as authorized advisor on the spherical.
