Stable Money reports Rs 4.3 Cr revenue and Rs 45 Cr loss in FY25

Stable Money recently raised $25 million in a funding round led by Fundamentum Partnership, with participation from Z47 and RTP Global. While the impact of this round on its growth and scale will reflect in FY26 and FY27, the firm recorded operating revenue of Rs 4.3 crore along with gross revenue of Rs 104 crore in FY25.

Stable Money recorded Rs 104.4 crore gross revenue in FY25 compared to Rs 1.3 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). However, its operating revenue stood at Rs 4.3 crore. Our analysis indicates that the company purchased bonds worth Rs 100 crore and sold them for Rs 104.4 crore, implying net revenue of around Rs 4.3 crore as commission on bond sales.

It is worth noting that the income of Rs 4.3 crore was booked as sale of services, but the firm did not provide any breakup under this head. The company earned Rs 7.63 crore from non-operating sources such as interest on bank deposits, bonds, dividend income from mutual funds, which took its overall income to Rs 112 crore in the last fiscal year.

Entrackr reached out to the Stable Money team multiple times over the week, but the firm didn’t respond to our queries regarding its financials.

Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money enables users to invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, bonds, gold & silver. It claims that over 40 lakh users have chosen its platform to invest more than Rs 5,000 crore across fixed deposits, Stable Bonds, and other secure instruments.

Coming to the cost side, purchases of bonds was the largest cost component for the wealthtech firm, which accounted for Rs 100 crore, importantly in FY25, followed by spend on advertising and promotional expenses which recorded at Rs 25.33 crore. 

Employee benefits expenses for the firm grew 2.5X year-on-year to Rs 21.8 crore, which included around Rs 5 crore in ESOP expenses. Software expenses, legal & professional, travelling, recruiting charges and other overheads drove the overall expenses to Rs 160 crore in the last fiscal year.

In the end, the company’s losses zoomed 3.5X year-on-year to Rs 44.8 crore in FY25 from Rs 12.8 crore in FY24. 

Despite crossing the Rs 100 crore revenue mark FY25, Stable Money’s losses widened 3.5X to Rs 44.8 crore in FY25 from Rs 12.8 crore in FY24, largely due to higher bond purchases, aggressive marketing spend, and continued investments in team and technology as it scaled its platform.

Stable Money has raised $65 million to date, including its most recent $25 million round led by Peak XV at a valuation of $175 million last week. Earlier, it raised $20 million in a round led by Fundamentum in June 2025.