TechFlow News, January 9 — According to Bloomberg, stablecoin payments company Rain announced it has raised $250 million in funding, valuing the company at $1.95 billion. The round was led by ICONIQ, with participation from prominent firms including Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures.
Rain CEO Farooq Malik said the funds will be used to expand operations across North America, South America, Europe, Asia, and Africa, while adapting to the evolving global regulatory landscape. Currently, Rain offers stablecoin card services on the Visa network in over 150 countries, enabling users to spend stablecoins at local merchants and withdraw cash from ATMs.
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