stable money Bengaluru-based Wealthtech startup has announced a significant milestone, securing $20 million in a Series B funding round. The investment was led by Nandan Nilekani’s Fundamentum Partnership, with key participation from Aditya Birla Ventures and continued support from existing investors Lightspeed, RTP Global, and Z47. This fresh capital infusion, coming less than a year after its $15 million Series A round, underscores investor confidence in Stable Money’s unique approach to wealth management in India.
Stable Money: A Focus on Predictability and Trust
Founded in 2022, Stable Money is strategically targeting India’s vast segment of conservative savers. Their growing suite of fixed-income products, including bank FDs, curated short-term bonds, and secured credit cards backed by deposits, caters to a demographic that prioritizes predictability and capital preservation. Co-founder and CEO Saurabh Jain emphasizes, “People want predictability. They don’t want to see their money go down.” This philosophy is at the core of their platform, building trust by starting with familiar products like FDs and gradually introducing users to bonds, mutual funds, and credit cards.
stable money, Rapid Growth, and Innovative Offerings
stable Money’s impressive growth is evident in its claim of over Rs 3,000 crore in assets under management (AUM) and more than 20 lakh customers. A significant driver of this growth has been the introduction of short-duration corporate bonds, with monthly AUM doubling since their launch last October. Notably, 80% of bond investors initially joined the platform for FDs, highlighting the success of their trust-building strategy.
Beyond bonds, stable Money has innovated with a secured credit card linked to fixed deposits, particularly beneficial for those with limited credit histories. With over 3,200 cards issued in just one month, particularly in Tier-2 towns, the product is seeing strong uptake. Upcoming offerings include loan-against-FDs and a pilot for mutual fund products, further expanding their low-risk savings ecosystem.
Catering to the Underserved Middle Class
What truly sets stable Money apart is its focus on the underserved, deposit-heavy middle class in smaller towns. Unlike many fintechs chasing urban millennials, stable Money aims to reach individuals who may not be digitally native but are deeply familiar with FDs and savings culture. They plan to achieve this through configurable “DIY-style baskets” of FDs, bonds, and mutual funds, offering simplicity and control rather than complex advisory services. To further deepen their reach, the startup is even piloting a physical distribution strategy, deploying small teams in select cities for onboarding and education.
The Series B funding will be instrumental in expanding product lines, strengthening partnerships with banks and NBFCs, and scaling these vital distribution channels. Stable Money’s commitment to building a trusted, low-risk savings ecosystem for India’s conservative investors positions them for continued success.
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