Stable Money, a rapidly emerging player in the wealthtech sector, has successfully raised Rs 173 crore (approximately $20 million) in a Series B funding round. This significant capital injection, led by The Fundamentum Partnership Fund, with strong participation from existing investors Matrix Partners, RTP Global, and Lightspeed India, underscores growing confidence in Stable Money’s mission to simplify fixed-income investing for retail customers.
Stable Money Details of the Funding Round
The funding round saw Stable Money issue a combination of equity and Series B preference shares at an issue price of Rs 33,345 each. The Fundamentum Partnership Fund emerged as the lead investor, contributing Rs 86.5 crore ($10 million). Notable contributions also came from existing backers: RTP Global invested Rs 33.78 crore, Matrix Partners Rs 45.42 crore, Lightspeed India Rs 4.32 crore, and Naman Finance added Rs 3 crore to the round. This strategic funding will be channeled towards capital expenditure, marketing initiatives, and general corporate purposes, fueling the company’s growth trajectory.
Stable Money Valuation Soars to $130 Million
This latest funding round propels Stable Money’s valuation to an estimated $130 million, marking an impressive 2.3x surge compared to its previous Series A round, which valued the company at $15 million. This substantial increase in valuation reflects the market’s recognition of Stable Money’s innovative approach and its potential to disrupt the fixed-income investment landscape. Following this allotment, the Fundamentum Partnership Fund will hold a 7.94% stake, while Matrix will hold 18.97%, RTP Global 13.45%, Lightspeed India 15.20%, and Naman Finance 0.28%.
Simplifying Fixed-Income for Retail Investors
Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is carving a niche in the wealthtech space by making fixed-income investments more accessible and understandable for retail customers. Their digital platform empowers users to effortlessly compare, invest in, and manage a diverse range of fixed-income products, with a particular emphasis on bank fixed deposits (FDs) from multiple banks. This user-friendly approach addresses a critical gap in the market, providing a streamlined experience for individuals looking to diversify their portfolios with stable, predictable returns.
Future Outlook and Financials
While Stable Money is yet to file its financial results for FY25, the company was in a pre-revenue stage for the fiscal year ended March 2024, reporting an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore. This is a common scenario for early-stage startups focused on building their platform and user base. With this fresh capital injection, Stable Money is well-positioned to accelerate its growth, expand its offerings, and further solidify its position as a leading platform for fixed-income investing in India. The company’s commitment to simplifying complex financial products holds immense promise for empowering a wider range of investors.
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