Stablecoin payment company Rain has completed a new funding round of $250 million, bringing its post-money valuation to $1.95 billion.

Stablecoin payment company Rain announced the completion of a new $250 million funding round, bringing its post-money valuation to $1.95 billion. This round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. This brings Rain's total funding to over $338 million.