Stablecoin startup Rain raises $250M at $1.95B valuation

Rain, a stablecoin payment infrastructure company, has raised $250 million at a valuation of $1.95 billion, Bloomberg reported. The funding round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. This latest investment brings Rain's total funding to $338 million.