Bengaluru-based wealthtech platform Stable Money has raised $20 million (INR 173 crore) in a strategic funding round led by Fundamentum Partnership, a venture capital fund co-founded by Nandan Nilekani and Sanjeev Aggarwal. The round also saw continued backing from existing investors Z47, RTP Global, and Lightspeed, with Aditya Birla Ventures joining as a new participant.
The latest infusion marks a significant milestone for the fintech startup, which had previously secured $20 million across its Seed and Series A rounds. Earlier backers include top-tier investors and prominent angels such as Sriharsha Majety (Swiggy), Kunal Bahl, and Rohit Bansal (Snapdeal).
Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money operates in the fixed-income investment space, helping users invest in secure and predictable return products such as fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. The platform currently partners with eight banks and two NBFCs, including names like IndusInd Bank, Ujjivan SFB, South Indian Bank, Unity SFB, and Suryoday SFB.
With over 150,000 users and more than ₹3,000 crore in Assets Under Management (AUM), the company plans to utilize the new capital to expand its product offerings, deepen integration with financial institutions, and enhance customer acquisition. Stable Money aims to onboard at least eight more banks and NBFCs in the next financial year to broaden its fixed-return investment ecosystem.
While the startup is still in its early growth phase, it reported ₹35.3 lakh in operating revenue and a net loss of ₹12.29 crore for FY24. However, the team remains focused on long-term scalability through a product-led strategy in India’s rapidly maturing fintech landscape.
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