Stable Money: Wealthtech Startup Secures $25 Million Pre-Series C Funding
Wealthtech startup Stable Money has announced a successful closure of a $25 million pre-Series C funding round, spearheaded by Peak XV Partners. This round saw participation from Z47 (previously Matrix Partners India), RTP Global, and Fundamentum Partnership. Following this funding, the startup’s valuation reached $175 million, reflecting a remarkable 3.6X increase in value within just under two years, as highlighted by Startup Superb’s analysis. It is noteworthy that the founders’ ownership was reduced to around 30% after this funding round.
This marks the second fundraising for the company in just eight months, following a $20 million Series B round that was led by Fundamentum last May, an event that was exclusively reported by Startup Superb. Based in Bengaluru, the company disclosed its new valuation while Startup Superb reviewed regulatory documents to confirm the details of the funding round and the complete capitalization table.
The board of Stable Money has approved a resolution to issue 54,491 pre-Series C Compulsory Convertible Preference Shares (CCPS) at an issue price of Rs 42,103 each in order to raise Rs 229.4 crore, which is approximately $25 million, according to a filing with the Registrar of Companies (RoC).
New investor Peak XV Partners has led this funding round with an investment of Rs 183.5 crore ($20 million). They were followed by Z47, which contributed Rs 21.65 crore, and RTP Global with an investment of Rs 15.32 crore. Fundamentum also participated, contributing Rs 8.9 crore.
In comparison to its previous $20 million Series B round, the company’s valuation increased by over 47%, raising the value to Rs 1,606 crore ($175 million). The valuation started from its $15 million Series A round in July 2024 and has increased more than 3.6X from Rs 440 crore.
With the new round of funding, Z47 has become the largest external shareholder in Stable Money, holding a 17.9% stake. Other significant shareholders include Lightspeed Venture Partners at 13.04% and RTP Global at 12.7%. New investor Peak XV Partners will hold an 11.43% stake, while co-founders Saurabh Jain and Harish Reddy will each retain 15.35%.
Co-founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money is specialised in fixed-income investments, providing users with the ability to compare and invest in fixed deposits, bonds via Stable Bonds, and various low-risk instruments from multiple banks.
For the fiscal year ending March 2025, Stable Money reported operating revenue of Rs 4.3 crore along with gross revenue of Rs 104 crore for FY25. However, its losses have surged 3.5X to Rs 44.8 crore during the last fiscal year.
Data compiled by Startup Superb indicates that Indian wealthtech startups raised over $634 million across 51 deals involving 39 different startups during 2024 and 2025. In the current calendar year, AssetPlus secured $19.3 million, while Wint Wealth raised $28 million. Additionally, Bengaluru-based Otto Money also obtained funding last month.