Rain has officially joined the unicorn club after raising $250 million in a Series C funding round, pushing its valuation to $1.95 billion. Founded in 2021, the company is building the infrastructure that allows stablecoins to move through the global financial system with the same ease and reliability as cash.
The latest round caps a period of exceptional growth and positions Rain as one of the most closely watched players in enterprise stablecoin payments, as regulation tightens and corporate adoption accelerates across major markets.
What is Rain? The Enterprise Stablecoin Payments Platform
Rain was founded in 2021 by Farooq Malik and Charles Yoo Naut with a clear focus on making stablecoin payments usable at enterprise scale. The company provides a payments infrastructure that allows businesses to issue cards, move funds, and settle transactions using stablecoins while remaining compatible with existing financial networks.
To date, Rain has raised $338 million in total funding and now operates at a $1.95 billion valuation. It holds Visa Principal Member status, enabling the company to issue Visa accepted cards directly rather than relying on intermediaries. Rain works with more than 200 enterprise partners, spanning fintech, marketplaces, and global payment providers.
Record Breaking Growth: 17x Valuation Jump in 10 Months
Rain’s rise has been defined by speed. In March 2025, the company raised a $24.5 million Series A, followed by a $58 million Series B in August of the same year. Just five months later, it secured a $250 million Series C, marking a 17x increase in valuation in under a year.
Operational growth has mirrored this momentum. Rain reports a 30x increase in active card usage and a 38x jump in payment volumes over the same period, reflecting growing demand from enterprises looking to move money globally without friction.
The Technology: Making Stablecoins Work Like Cash
At the core of Rain’s platform is technology designed to hide complexity from the end user. Businesses can issue Visa accepted cards that draw directly from stablecoin balances, allowing holders to pay anywhere Visa is accepted worldwide.
The platform supports seamless fiat to stablecoin conversion, secure digital wallets, and automated payouts. Rain processes more than $3 billion in annualised transaction volume, demonstrating that stablecoins can operate reliably at scale when supported by the right infrastructure.
Major Partners and Customer Base
Rain’s customer base includes well known names such as Western Union, Nuvei, and KAST. Through these partnerships, the company’s infrastructure has the potential to reach more than 2.5 billion end users.
The platform is currently operational in over 150 countries, supporting cross border payments, payroll, remittances, and enterprise disbursements across multiple regions.
Regulatory Landscape Enabling Growth
Regulation has played a central role in Rain’s expansion. In the United States, clearer guidance under the Genius Act framework has provided businesses with greater confidence in deploying stablecoin based payment systems.
In Europe, the introduction of MiCA regulation has created a more predictable environment for digital asset payments. Rain has been expanding into licensed markets that align with these frameworks, allowing it to scale while maintaining compliance across jurisdictions.
Leadership: Farooq Malik and Charles Yoo Naut
Rain is led by co founders Farooq Malik and Charles Yoo Naut, who bring experience in payments, fintech, and infrastructure. Their vision centres on positioning stablecoins as a practical settlement layer for global commerce rather than a niche crypto product.
Under their leadership, Rain has focused on building partnerships with established financial institutions and payment networks, embedding stablecoin capabilities into familiar workflows used by enterprises worldwide.
Use of Funds and Expansion Strategy
The Series C capital will be used to accelerate Rain’s expansion across North and South America, Europe, Asia, and Africa. The company is also investing in strategic acquisitions, including Uptop and Fern, to deepen its platform capabilities.
Beyond geographic growth, Rain plans to continue enhancing its core infrastructure, adding features that support higher volumes, new payment use cases, and tighter integration with enterprise systems.
Investor Syndicate Led by ICONIQ
The Series C round was led by ICONIQ, known for backing global technology leaders at scale. The investor syndicate also includes existing backers who have supported Rain through its earlier funding rounds.
Rain now sits alongside other high growth infrastructure companies in ICONIQ’s portfolio, reinforcing its position as a long term bet on the future of global payments.
Market Opportunity: The $33 Trillion Stablecoin Economy
The stablecoin market processed an estimated $33 trillion in transactions last year, with growth of around 72 percent in 2025 alone. USDC and USDT continue to dominate volumes, but enterprise use cases are expanding rapidly.
Corporates are increasingly adopting stablecoins for treasury management, cross border settlements, and supplier payments, driven by speed, transparency, and lower costs compared to traditional rails.
FAQs About Rain
What does Rain do
Rain provides enterprise infrastructure that enables businesses to issue cards and move money using stablecoins through global payment networks.
When was Rain founded
Rain was founded in 2021.
Who are the founders of Rain
The company was founded by Farooq Malik and Charles Yoo Naut.
How much funding has Rain raised
Rain has raised a total of $338 million to date.
What is Rain’s valuation
Following its Series C, Rain is valued at $1.95 billion.
Where does Rain operate
Rain’s platform is live in more than 150 countries worldwide.
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