Bengaluru-based wealthtech company Stable Money has raised $20 million (about INR 173 crore) in a new funding round. The round was led by Fundamentum Partnership, with support from existing investors Z47, RTP Global, and Lightspeed.
Aditya Birla Ventures also joined the round.
Earlier, Stable Money raised $20 million in total through its Series A and Seed funding rounds.
These rounds were backed by investors like Z47, Lightspeed, RTP Global, and angel investors such as Sriharsha Majety, Kunal Bahl, and Rohit Bansal.
The Money raised will be used to grow Stable Money’s range of products, bring in new banking partners, and reach more customers. The company plans to add at least eight more banks and financial institutions in 2025.
Stable Money was started in 2022 by Saurabh Jain and Harish Reddy. It helps users invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds.
Stable Money currently works with eight banks and two non-banking financial companies (NBFCs). Some of its partners include IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB.
The platform has over 150,000 users and manages assets worth more than INR 3,000 crore.
The company hasn’t shared its financial results for the year ending in March 2025 yet. For the previous year, which ended in March 2024, it was still not making any revenue. It reported an operating income of INR 35.3 lakh but had a net loss of INR 12.29 crore.
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