-34%

est. 2Y upside i

FinTechDevOps & InfraSeries C

Rain develops and operates cutting edge digital asset authorization and settlement infrastructure in concert with its innovative payment card solutions. By connecting blockchain settlement with traditional financial systems like the Visa network, Rain drives adoption and utility for digital assets in enterprise and consumer use cases.

Rank

#1348

Sector

Fintech, Payments Infrastructure, Cryptocurrency

Est. Liquidity

~3Y

Data Quality

Data: Medium

Rain presents a strong upside opportunity for a job seeker, driven by its explosive growth in active card base (30x) and payment volume (38x) in 2025, reaching over $3 billion in annualized transactions.

Last updated: March 10, 2026

Bull (40%)+180%

Rain leverages its strong moat as a Visa Principal Member and proprietary full-stack technology to dominate the rapidly expanding enterprise stablecoin payments market. Explosive growth in active card base (30x) and payment volume (38x) continues, pushing annualized transactions well beyond $10B and justifying a valuation of $5.46B+ by 2028, driven by global expansion and new product adoption.

Base (25%)+75%

Rain maintains its strong position in the stablecoin payments infrastructure market, growing its enterprise customer base and expanding internationally. While competition from incumbents like Brex and Ramp intensifies, Rain's specialized focus and regulatory readiness allow for sustained, albeit moderated, growth. The company reaches an annualized transaction volume of $5-7B, leading to an exit valuation of approximately $3.41B.

Bear (35%)-55%

Increased regulatory scrutiny or a significant push by dominant incumbents (e.g., Stripe's 'chain-agnostic' solutions or traditional banks entering the stablecoin space) erodes Rain's market share and pricing power. Growth slows considerably, and the company faces a down round or a flat exit. Given the $338M in liquidation preferences, a valuation of $0.8775B would significantly diminish or wipe out common stock value.

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

17%

$338M in total funding means investors hold $338M in liquidation preferences ahead of common stock.

Dilution Risk

moderate

As a Series C company, Rain will likely undergo at least one or two more funding rounds before a potential IPO or acquisition, leading to further dilution for existing equity holders.

Secondary Liquidity

limited

Secondary market liquidity is limited, primarily available to accredited investors through platforms like Forge, Nasdaq Private Market, or Hiive, and not accessible to the general public.

Engineering — 14 roles

GTM — 10 roles

Compliance — 7 roles

Operations — 4 roles

Finance — 3 roles

Legal — 3 roles

Marketing — 3 roles

People — 3 roles

Design — 1 role

General — 1 role

Product — 1 role

View all 56 open roles at Rain →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Rain's data — designed to show you've done your homework.

  • 1

    “Given the intensifying 'payment stack war' and incumbents like Stripe making 'chain-agnostic' acquisitions, how does Rain plan to maintain its differentiation and competitive edge against these powerful players?”

  • 2

    “Rain has demonstrated impressive growth in active card base (30x) and payment volume (38x) in 2025. What are the key strategies and metrics the company is focusing on to sustain this rapid growth and scale its annualized transaction volume beyond $3 billion in the next 12-24 months?”

  • 3

    “With Rain being a Series C company and having raised over $338M, how is the leadership team thinking about the timeline and potential pathways for a liquidity event (e.g., IPO or acquisition) for employees, especially considering the current preference stack?”

Community

Valuation Sentiment

Our model estimates -34% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.