Rain, a four-year-old fintech that issues Visa payment cards backed by stablecoins, has raised $58 million in Series B financing led by enterprise-technology specialist Sapphire Ventures
Rain, a four-year-old fintech that issues Visa payment cards backed by stablecoins, has raised $58 million in Series B financing led by enterprise-technology specialist Sapphire Ventures. Additional backers include Samsung Next, Dragonfly, Galaxy, Lightspeed Venture Partners, Norwest Venture Partners and Endeavor Global.
The latest round comes just five months after the San Francisco-based company closed a $24.5 million Series A led by Norwest, lifting Rain’s total funding to about $88.5 million. Rain said it will use the capital to scale its platform, which enables businesses to issue cards that spend USDC and other stablecoins directly on existing payment networks.
Company executives said adoption of stablecoin-linked payments has accelerated in 2025 as firms seek faster and cheaper cross-border transactions. Sapphire Ventures noted the deal is its first investment tied to stablecoins, underscoring growing institutional interest in blockchain-based payment infrastructure.
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Source: https://thedefiant.io/news/tradfi-and-fintech/stablecoin-card-startup-rain-raises-58-million-led-sapphire-ventures-e2dc4dae
