Stablecoin platform Rain has raised $58 million in a Series B funding round led by Sapphire Ventures.
Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest joined the round, which comes just five months after Rain's Series A as the stablecoin sector continues to heat up.
Enterprise interest in stablecoins has surged following the Genius Act in the US and the MiCA framework in Europe, which have created a clear regulatory path for adoption.
Rain's platform enables enterprises, neobanks, platforms, and developers to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails.
As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, enabling purchases in over 150 countries.
The firm says it has seen transaction volume grow 10x since January 2025, with portfolio partners — including Nuvei, Avalanche, Dakota, and Nomad — using its infrastructure for merchant payouts, everyday consumer purchases, B2B spend, and cross-border payroll.
The latest funding will be used to expand the platform, target new markets, and make hires for its engineering, commercial, and compliance teams.
Farooq Malik, CEO, Rain, says: "In its earliest form, money moved instantly. We've spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency."