Samsung Next, Samsung Electronics Co.’s venture capital arm, participated in a $58 million Series B funding round for Rain, a San Francisco-based fintech startup that enables stablecoin-powered payments through Visa’s network.
Sapphire Ventures led the round, which included Dragonfly, Galaxy Ventures, Endeavor Catalyst, Lightspeed, and Norwest Venture Partners. The investment brings Rain’s total funding to $88.5 million, just five months after its Series A round.
Founded in 2021, Rain provides infrastructure allowing businesses to integrate stablecoins into cards, wallets, and payment programs through a single API. The company claims its platform serves over 1.5 billion people globally and processes transactions across 150 countries.
Rain’s rapid funding timeline coincides with what it describes as tenfold growth in transaction volume since January. The company operates as a Visa Principal Member, settling card payments directly in stablecoins on Visa’s network.
The startup’s growth trajectory aligns with broader regulatory developments. Recent frameworks including the U.S. GENIUS Act and Europe’s Markets in Crypto-Assets regulation have provided clearer compliance pathways for stablecoin adoption, according to industry sources.
Rain plans to use the new capital for hiring in engineering and compliance teams while expanding into European, Middle Eastern, African, and Asia-Pacific markets. The company’s partners include payment processor Nuvei, blockchain platform Avalanche, and various financial services firms.
