Stable Money raises $20 Mn led by Fundamentum

Bengaluru-based wealthtech platform Stable Money has raised $20 million (Rs 173 crore) in a funding round led by Fundamentum Partnership and participation from existing investors Z47, RTP Global, and Lightspeed.

Aditya Birla Ventures also joined the round.

Entrackr had exclusively reported the development last month. 

The company had previously raised $20 million across Series A and Seed round from Z47, Lightspeed, RTP Global, and angel investors including Sriharsha Majety, Kunal Bahl, and Rohit Bansal.

The proceeds will be used to expand its product suite, onboard new banking partners, and scale distribution. The company aims to add at least eight more banks and NBFCs in 2025.

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, and bonds. 

It currently partners with eight banks and two NBFCs. Integrated institutions include IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform has over 150,000 users and more than Rs 3,000 crore in assets under management.

The company has not yet filed its financial results for FY25. For the fiscal year ended March 2024, it remained in the pre-revenue stage, reporting an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.