Team Startupcity

• Stable Money raises $20M in fresh funding led by Fundamentum, with participation from RTP Global, Lightspeed, Aditya Birla, and Z47.
• Platform enables investments in fixed-return products like FDs, RDs, secured credit cards, and bonds, with Rs 3,000+ crore in AUM.
• Expansion plans for 2025 include onboarding 8+ new banks/NBFCs and widening product offerings across fixed-income investments.

Stable Money, Bengaluru-headquartered wealthtech company, has raised $20 million (around Rs 173 crore) in a new funding round from Fundamentum Partnership, with help from existing investors Z47 and RTP Global, and Lightspeed Venture Partners and Aditya Birla.

This current round is added to the company's previous $20 million that it had raised from its Seed and Series A rounds, with investment from Z47, RTP Global, Lightspeed, and prominent angel investors such as Sriharsha Majety (Swiggy), Kunal Bahl, and Rohit Bansal (Snapdeal).

Stable Money, which was established in 2022 by Saurabh Jain and Harish Reddy, allows users to invest in fixed-return financial products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. The platform is currently allied with eight banks and two NBFCs, including IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB.

With more than 150,000 users and Rs 3,000+ crore AUM, the firm is looking to leverage the new capital to increase its fixed-income product offerings, onboard eight or more banking and NBFC partners during 2025, and ramp up distribution activities.

Although Stable Money is in the nascent stages of monetization, it posted operating revenue of Rs 35.3 lakh and a net loss of Rs 12.29 crore for the year ending March 2024. Financials for FY25 are yet to be filed.