Stable Money Raises Rs 136 Crore in Series C Funding
Wealthtech startup Stable Money has initiated its Series C funding round, successfully securing Rs 136 crore ($14.3 million) from its existing investors. The funding round was spearheaded by The Fundamentum Partnership, with contributions from Peak XV Partners, RTP Global, and Z47, previously known as Matrix Partners.
This marks Stable Money’s second fundraising effort within the current year. Earlier, in February, the startup acquired $25 million at a valuation of $175 million in a funding round led by Peak XV Partners.
Stable Money’s board authorised the issuance of 1,318 equity shares and 20,591 Series C preference shares at an issue price of Rs 62,167.9 each, allowing the company to raise Rs 136.2 crore or $14.3 million, according to documentation submitted to the Registrar of Companies (RoC).
The Fundamentum Partnership was the leading contributor in this tranche, investing Rs 73.76 crore ($7.8 million), while Peak XV Partners contributed Rs 22 crore. Both RTP Global and Z47 invested Rs 20.2 crore each.
According to estimates from Startup Superb, Stable Money’s valuation experienced a 56% increase, climbing to Rs 2,507 crore ($264 million) from Rs 1,607 crore ($175 million) during its previous $25 million pre-Series C funding round.
Queries directed to Stable Money did not receive an immediate response, but updates will follow upon the company’s reply.
Established in 2022 by Saurabh Jain and Harish Reddy, Stable Money functions as a wealthtech platform that allows users to compare and invest in fixed deposits, bonds through Stable Bonds, and other fixed-income products from various banks.
Following the recent share allotment, Z47 remained the most significant external shareholder with a 17.73% stake, closely followed by RTP Global with 12.82% and Peak XV Partners with 11.69%. The Fundamentum Partnership raised its stake to 9.9%, whereas the founders’ overall holding declined to 29.04%.
The company has not yet submitted its financial results for FY26. In FY25, Stable Money reported Rs 4.3 crore in operating revenue and Rs 104 crore in gross revenue, while its losses expanded 3.5 times, reaching Rs 44.8 crore.