Rain Company Stability & Growth

Which metric or milestone best captures strength this year — and why is it credible?

Total Payment Volume offers the clearest view of Rain’s strength — the total value of transactions powered by our platform globally. At the end of 2025, our technology had processed over $3 billion worth of purchases. We also tripled to 200-plus customers last year and their cardholders used Rain-issued credentials to make purchases in 170-plus countries. This combination of scale and geographic reach demonstrates product–market fit for our onchain payment platform.

Investor conviction mirrors the data. We announced a $24.5 million Series A in March 2025, a $58 million Series B in August 2025 and a $250 million Series C in January 2026. All rounds were led by world-class institutional investors.

Taken all together, these signals indicate that stablecoin-powered spend is moving from experimentation to real-world utility. Rain is well positioned to continue leading the revolution.

Where are you strongest competitively — and what proof backs that?

Many stablecoin infrastructure companies focus on improving cross-border movement. Rain supports that use case, but the payment flow is only complete when value is spendable by the recipient. Our advantage is converting stablecoin value into everyday purchasing power through an end-to-end card issuing and payments stack.

As a Visa Principal Member, we enable partners to launch cards that work wherever Visa is accepted, without assembling multiple vendors. This delivers faster time to market, simpler operations, unified risk and compliance and consistent settlement across regions.

The proof is in production. Customers use Rain to build and scale programs for diverse needs: dollar accounts for the underbanked, international dollar cards for globally mobile users, crypto-linked spend and government benefits disbursements. Collectively, these programs have processed billions of dollars at merchants in 170-plus countries, demonstrating production-grade utility at the point of sale.

What expansion bet excites you — and which leading indicator will you watch? 

Our key expansion bet is enterprise customers. These large, incumbent brands are moving from pilots to production and need stablecoin solutions that lower unit costs, accelerate launches and meet compliance obligations across regions. Rain provides a single integration that enables multi-market coverage and modular capabilities, including rewards via our acquisition of Uptop and on/offramps and cross-chain support via our acquisition of Fern.

As we expand with enterprise customers, progress will be measured by TPV, with particular attention to TPV from enterprise programs. Focusing on TPV ensures we partner with teams prepared to launch and scale production deployments, not just run experimental pilots.