Total amount raised
$19.8 Million
Latest funding date
7/1/2024
Location
Stable Money has successfully raised funds through three distinct funding rounds, attracting investments from prominent venture capital firms such as Matrix Partners India, RTP Global, and Fundamentum. The platform specializes in offering fixed-return investment options, including fixed deposits, debt mutual funds, and bonds.
Keep reading to explore the intricacies of Stable Money's fundraising journey and the investors backing this innovative platform.
What Is Stable Money?
Stable Money is a private company based in Bangalore, Karnataka, India, specializing in financial services, fintech, and wealth management. The platform offers fixed-return investment options, including fixed deposits, debt mutual funds, and bonds.
Founded by notable figures such as Kunal Bahl, Nandan Nilekani, and Sriharsha Majety, Stable Money has an employee count ranging from 11 to 50. The company is trusted by over 30 lakh users across 2,600+ cities in India, ensuring security through insurance by DICGC, a subsidiary of RBI.
How Much Funding Has Stable Money Raised?
- Seed Round
- Amount Raised: $5,000,000
- Date: February 2023
- Lead Investors: Lightspeed India Partners, Z47
- Valuation at Round: $16.5 million
- Motivation Behind the Round: Initial development and scaling efforts.
- Seed Round
- Amount Raised: $14,740,000
- Date: July 2024
- Lead Investors: RTP Global, Z47
- Valuation at Round: $55 million
- Motivation Behind the Round: Development and expansion of the fixed-return investment platform and financial advisory services.
- Series B
- Amount Raised: INR 1,730,000,000 (approximately $21,000,000)
- Date: May 2025
- Lead Investors: Fundamentum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Further scaling and enhancing the platform's capabilities.
Total Amount Raised: $40,740,000. Current Valuation: Not publicly disclosed.
Key Investors
- Fundamentum
- Details: Fundamentum is a growth-stage investment firm co-founded by Nandan Nilekani and Sanjeev Aggarwal. The firm focuses on scaling up mid-stage technology companies in India.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: PharmEasy, Spinny, Ayu Health.
- RTP Global
- Details: RTP Global is a venture capital firm that invests in early-stage technology companies. It has a global presence with a focus on supporting innovative startups.
- Investment Focus Areas: Fintech, healthtech, consumer internet, enterprise software.
- Notable Investments: Cred, Practo, Rebel Foods.
- Z47
- Details: Z47 is a venture capital firm that invests in early to mid-stage technology companies. The firm is known for its strategic support and extensive network.
- Investment Focus Areas: Technology, fintech, consumer services.
- Notable Investments: Not publicly disclosed.
- Lightspeed India Partners
- Details: Lightspeed India Partners is a venture capital firm that focuses on early-stage investments in India. It is part of the global Lightspeed Venture Partners network.
- Investment Focus Areas: Fintech, consumer services, enterprise technology.
- Notable Investments: OYO, Byju's, Udaan.
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that invests in early-stage technology and technology-enabled companies. It is part of the global Matrix Partners network.
- Investment Focus Areas: Fintech, consumer technology, enterprise technology.
- Notable Investments: Ola, Practo, Quikr.
What's Next for Stable Money?
Stable Money stands at the cusp of significant growth opportunities, driven by its focus on developing a fixed-return investment platform and providing financial advisory services. With a recent valuation surge to $55 million, the company is well-positioned to capitalize on the increasing demand for wealthtech solutions. The platform's commitment to financial literacy further enhances its appeal, potentially attracting a broader user base.
Future fundraising prospects appear promising, given the successful completion of two funding rounds within a year. This momentum suggests that Stable Money could continue to attract substantial investments, enabling further expansion and innovation. However, the company must navigate the competitive landscape and the challenges of a volatile market, ensuring regulatory compliance and maintaining investor confidence.
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