Why We Raised: Building the Global Stablecoin Enablement Platform
Today, we announced that Rain has raised $58 million in Series B funding, led by Sapphire Ventures and with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest. This investment will help us accelerate our progress toward becoming the global stablecoin enablement platform for enterprises, marketplaces, neobanks, and developers.
A Pivotal Moment for Stablecoins
Over the past 18 months, stablecoins have moved from the periphery of finance to the center of global payment flows. In 2024 alone, they processed $27.6 trillion in transactions — more than Visa and Mastercard combined — and the number of active stablecoin wallets grew by over 50% year-over-year, now surpassing 30 million worldwide.
We are still early in the adoption curve. In many ways, stablecoins today are where mobile phones were in the late 1980s: powerful, but bulky and limited to a select few. Back then, mobile phones were reserved for executives and installed in cars; today, they’re in everyone’s pocket, transforming nearly every industry. Stablecoins are on a similar path as they move from niche usage to universal utility at a pace that will feel inevitable in hindsight.
Those of you who have been following our journey know we announced our Series A in March of this year. That raise was about expanding the global footprint of our card issuance solution, and boy did we deliver:
- Since January 2025, card transactions are up 10x, with partners seeing sustained double-digit monthly growth.
- A single Rain integration now unlocks access to a serviceable market of over 1.5 billion people worldwide.
- End users are transacting in over 150 countries — from purchases at local merchants to online marketplace payouts.
Our infrastructure is being used by companies like Nuvei, which pays merchants seven days a week in stablecoins through Rain-powered accounts, and Nomad, whose customers in Brazil can save, store, and spend in dollars seamlessly for anything from coffee to Starlink.
Why We Raised
If our Series A was about scaling our card platform, this raise is about expanding the full stack of services enterprises need to launch and scale stablecoin-based products:
- Money-In: Integrated on-ramps and virtual accounts to support more fiat-backed programs globally.
- Wallets & Accounts: Embedded wallets that allow any app or platform to compliantly hold stablecoins.
- Money-Out: Real-time cross-border payout rails, advanced treasury controls, and multi-currency off-ramps.
Our goal is to be the one-stop shop for stablecoin adoption, so partners can focus on their customers and leave the complexity of global payments infrastructure to us.
At the same time, we’re doubling down on supporting the customers who are already winning with Rain. Their programs are growing at an extraordinary pace, and this raise ensures we can scale our infrastructure, services, and collaboration alongside them. That means even faster onboarding, better end-to-end customer experiences, and deeper co-development to help our partners grow their programs and reach new markets even faster.
We’re pleased to have chosen Sapphire to back this enterprise-worthy ambition. Their belief in the future of programmable, globally accessible money — and their experience helping companies scale into regulated, multi-jurisdictional environments — make them the right partner for our next stage.
We’re also grateful to our returning investors, including Norwest, Lightspeed, and Galaxy Ventures, for reaffirming their support.
The Way Money Was Supposed to Be
The earliest form of money was beads, seeds, shells, and coins. When it was exchanged, it moved instantly from one hand to another. Over time, the whole system slowed down, introducing delays, intermediaries, and unnecessary costs.
Rain builds the technology that makes money move freely again:
- So a global marketplace can pay sellers across 50 countries in seconds, not weeks, without needing a web of bank accounts.
- So the freelance engineer in Argentina can get paid instantly, securely store their income in stablecoins, and use it to purchase their children’s back-to-school gear.
- So the auto manufacturer can pay suppliers as soon as materials arrive at port, receive raw materials days sooner, and keep their factories humming.
If you’re involved with payments at your company and these types of improvements excite you, we’d love to work with you. Reach out to connect with our team.
And if you want to help build this future, we’re hiring across every team to meet the demand from partners ready to embed stablecoins into their products. Explore careers at Rain here.
