Matrix and Lightspeed invest in Stable Money

Fintech startup Stable Money has raised $5 million in its first equity fundraise led by Matrix Partners and Lightspeed, with participation from Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors.

Snapdeal co-founders Kunal Bahl and Rohit Bansal, M2P Fintech cofounder Madhusudanan and Swiggy co-founder Sriharsha Majety are among the prominent angel investors who participated in the round.

Entrackr had exclusively reported the development in February this year. 

Founded in late 2022, Stable Money will help individuals grow their wealth over the long term by offering investment options that prioritise returns with safety and stability. 

The startup is involved in listing out various securities including financial products along with market analysis to help investors decision making and provides financial consultation services to investors. Stable Money also publishes financial literacy content on its online platform to create awareness among investors.

Matrix and Lightspeed announced their India dedicated fund in June and July last year. Since then, Lightspeed has backed Zluri, Gushwork.ai, XFlow BlueLearn, GlobalFair and Exponent Energy whereas Matrix invested in EMTECH, Freakins, Scapia, Genwise, Saveo, Murf AI, XimKart, ZippMat, among others.