Huoxun Finance News, January 9th - According to Bloomberg, stablecoin payment company Rain announced the completion of a new $250 million funding round, valuing the company at $1.95 billion post-money. This round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. This brings Rain's total funding to over $338 million. Co-founder and CEO Farooq Malik stated that the funds will be used to expand its operations in North America, South America, Europe, Asia, and Africa, and to help the company adapt to the rapidly changing global regulatory environment. Rain currently issues stablecoin payment cards in over 150 countries through a partnership with Visa, allowing cardholders to make purchases at local merchants or withdraw cash from ATMs. The company also plans to integrate with payment systems such as ACH in the US and SEPA in Europe through partner financial institutions. Malik stated that the company may pursue strategic acquisitions in the future, having already acquired rewards platform Uptop and currency conversion platform Fern in the past year.
Stablecoin payment company Rain has completed a new funding round of $250 million, bringing its post-money valuation to $1.95 billion.
2026-01-09 12:31:02
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