Rain
Unicorn Β· $1.9B5 known investors
Rain builds infrastructure that turns stablecoins into usable financial products, including cards accepted at over 175M merchant locations, digital-dollar wallets, and global payment flows. It serves institutional partners looking to adopt onchain settlement infrastructure while maintaining familiar user experiences.
Also known as Nimbus LLC d/b/a Third National Β· Rain Payments Services, Inc. Β· Rain Products, Inc. Β· rain.xyz Β· Signify Holdings, Inc.
Investors Β· 5
Also in the syndicate Β· 2
Valuation Β· disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed β follow each entry's link for the claim.
Company profile
researched Aug 2026Rain, operated by Signify Holdings, Inc., is a financial technology company that supplies stablecoin-based payments infrastructure to enterprises, neobanks, platforms and developers. Through a single API, partners can launch prepaid or credit card programs, hold stablecoins in wallets, run card-native rewards, convert between fiat and stablecoins via onramps and offramps, open virtual accounts with static routing details, and send and receive fiat and stablecoin payments. The company positions its stack as built natively for stablecoin flows rather than legacy rails adapted to crypto, and states that it settles card transactions with card networks daily using stablecoins.
The product set is marketed for use cases including global card programs, access to US dollars in regions with limited banking, cross-border B2B payments, spendable remittances, scoped virtual cards for agents and humans, controlled agentic payments, and embedded wallet/card/ramp bundles. Rain says compliance, risk and program operations are built into the platform, and that cards are issued through partners licensed in their respective jurisdictions; banking services are provided by SSB, Member FDIC. Rain states it is not a bank, exchange or asset custodian and does not hold deposits.
Corporate structure spans Signify Holdings, Inc. and majority-owned subsidiaries including Nimbus LLC d/b/a Third National, Rain Payments Services, Inc. and Rain Products, Inc. A published prohibitions list restricts card issuance and virtual account access in numerous jurisdictions and bars a broad set of merchant and business categories.
Business model
Rain sells infrastructure to businesses rather than to end consumers: partners integrate a single API to issue cards, hold stablecoin balances, and move money, with Rain acting as the program, compliance and settlement layer in place of multiple local issuers and payment vendors.
Traction
As of the January 2026 Series C announcement, Rain reported more than $3B in annualized transactions, over 200 partners, potential reach of over 2.5 billion people through programs built on Rain, a 30x increase in active card base and a 38x increase in annualized payment volume over the prior year, and millions of purchases in over 150 countries. The company's about page cites card acceptance at 175M+ merchant locations.
Latest developments
In January 2026 Rain announced a $250M Series C led by ICONIQ at a $1.95B valuation, four months after its Series B and ten months after its Series A, with capital intended for licensed-market expansion, platform depth including strategic acquisitions, and new products. Recent company announcements include Western Union's Stablecard going live on Rain, the introduction of Rewards, the Agent Control Layer, Mastercard Principal Member status, and the launch of an Agentic Payments Alliance.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Rain describes itself as enterprise-grade infrastructure for stablecoin-powered payments and reports more than 200 partner organizations, including Western Union, Nuvei and KAST. It is described as a Visa Principal Member issuing cards usable anywhere Visa is accepted in over 150 countries, and separately announced becoming a Mastercard Principal Member.
Stablecoin-native architecture rather than crypto added to legacy rails; a single partner for multi-region programs instead of stitching together local issuers; daily stablecoin settlement with card networks for capital efficiency; and built-in compliance, risk and program operations.
Technology
A unified API combining wallets, card issuing, rewards, onramps, offramps, virtual accounts and payments on stablecoin rails, with daily onchain settlement of card transactions with card networks and an announced "Agent Control Layer" for guardrailed agentic spending. Onchain mechanics are abstracted so end users see conventional apps and cards.
Go-to-market
Partner- and API-led distribution: Rain provides white-label card, wallet and money-movement programs that partner platforms embed in their own products, supported by hands-on program design, compliance and launch support. Public marketing includes a blog, case studies, webinars and events.
Enterprises, neobanks and fintechs, crypto exchanges and DeFi apps, marketplaces, payroll and remittance providers, platforms and developers; end users include cardholders and virtual account users, including globally based high-net-worth individuals seeking USD cards.
Geography
Headquartered in the United States with the Series C announcement datelined New York; cards usable in over 150 countries. Series C proceeds are earmarked for expanding licensed-market presence across North America, South America, Europe, Asia and Africa. Virtual account programs exist for the US and Mexico, and card issuance and spending are prohibited in a defined list of sanctioned or high-risk jurisdictions.
History
Website copyright notices run from 2022 under Signify Holdings, Inc. Public funding history reported in the Series C announcement indicates a Series A about ten months before January 2026 and a Series B about four months before, with cumulative funding exceeding $338M.
Risks & controversies
Rain operates in a regulated payments environment and depends on licensed partner institutions for issuing and banking services; it explicitly disclaims bank, exchange and custodian status and FDIC insurance at the Rain level. Its published prohibitions list reflects sanctions and compliance exposure, excluding cardholders and virtual account users in numerous jurisdictions and a wide range of business categories. Note that several similarly named but unrelated companies exist (a Bahrain-based crypto exchange, a Los Angeles earned-wage-access startup, and an advertising agency), which complicates public-record matching.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Competitors Β· 1
by search overlapCompanies competing with Rain for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline Β· 7
launches, deals, and filingsRain published an updated prohibitions list covering restricted jurisdictions for card issuance, card spending and US and Mexico virtual account programs, plus prohibited and enhanced-review business categories. The document identifies Rain as Signify Holdings, Inc. and subsidiaries including Nimbus LLC d/b/a Third National, Rain Payments Services, Inc. and Rain Products, Inc.
Rain announced a $250 million Series C led by ICONIQ with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest and Endeavor Catalyst. The round valued the company at $1.95 billion and brought total funding above $338 million. Wachtell, Lipton, Rosen & Katz was legal advisor. Proceeds are for licensed-market expansion across North America, South America, Europe, Asia and Africa, platform depth including strategic acquisitions, and new products.
$250M source β
Company news item announcing that Rain is now a Mastercard Principal Member.
Rain announced the launch of the Agentic Payments Alliance (APA) to guide the future of agent-driven commerce.
Rain announced a card-native rewards product; Raindrops are described as loyalty rewards that are not cash, cryptocurrency or a deposit account.
Rain announced an Agent Control Layer supporting scoped virtual cards and guardrails for agent-initiated spending and money movement.
Rain announced that Western Union's Stablecard launched on its platform.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
βΈResearch sources Β· 8
primary sources listed
- Rainraincards.xyz Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Rain do?
- Rain provides an API-based platform for enterprises to issue stablecoin-powered cards, wallets and cross-border payments.
- Who are Rain's investors?
- Rain's investors include Coinbase Ventures, Mischief, Norwest Venture Partners.