Stable Money Secures $20 Million Funding Round

Bengaluru-based wealthtech platform Stable Money has successfully completed a funding round, raising $20 million (Rs 173 crore). This round was led by Fundamentum Partnership, with participation from existing investors Z47, RTP Global, and Lightspeed. Notably, Aditya Birla Ventures also joined in on this round.

Last month, the startup Superb exclusively reported this significant development.

Previously, Stable Money had garnered a total of $20 million in funding through Series A and Seed rounds, backed by Z47, Lightspeed, RTP Global, and angel investors like Sriharsha Majety, Kunal Bahl, and Rohit Bansal.

The funds raised will be allocated to extend its product offerings, bring new banking partners on board, and enhance distribution capabilities. The company’s ambition for 2025 includes adding a minimum of eight additional banks and NBFCs.

About Stable Money

Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money provides users with opportunities to invest in fixed-return products, including fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. Currently, the platform collaborates with eight banks and two NBFCs.

Partnerships and Growth

Stable Money’s integrated institutions comprise IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform boasts over 150,000 users and manages assets exceeding Rs 3,000 crore.

Financial Performance

As of now, the company has not filed its financial results for FY25. However, for the fiscal year that concluded in March 2024, Stable Money remained at the pre-revenue stage, reporting an operating income of Rs 35.3 lakh alongside a net loss of Rs 12.29 crore.