Stable Money, a rising player in India’s wealthiest space, has secured $20 million (approximately ₹173 crore) in its latest funding round. The round was led by Fundamentum Partnership — the growth-stage VC firm co-founded by Nandan Nilekani and Sanjeev Aggarwal — and saw continued support from existing backers Z47, RTP Global, and Lightspeed. Aditya Birla Ventures also came on board as a new investor.
This fresh capital comes on top of the $20 million Stable Money had previously raised across its Seed and Series A rounds, bringing its total funding to $40 million.
Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money aims to modernize how Indian users access and invest in fixed-return products such as fixed deposits (FDs), recurring deposits, bonds, and secured credit cards — areas traditionally dominated by banks and seen as cumbersome for younger, digital-first consumers.
The platform currently works with eight banks and two NBFCs, offering a range of deposit products through institutions like IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. With over 150,000 users and ₹3,000+ crore in assets under management, the company is carving out a niche in the conservative investment space by making fixed-income options more accessible.
“India has over ₹200 lakh crore in fixed-return investments, yet the process of discovering and investing in these products remains fragmented and opaque. We want to change that,” said co-founder Saurabh Jain.
The newly raised funds will be used to broaden the company’s product suite, onboard at least eight more banking and NBFC partners in 2025, and further scale distribution efforts. The leadership is betting big on the digitization of traditional financial products, particularly among first-time investors and underserved demographics.
However, Stable Money still has a distance to cover on the revenue front. The company reported operating income of ₹35.3 lakh for FY24, with a net loss of ₹12.29 crore, remaining in the pre-revenue stage as it continues to prioritize user acquisition and infrastructure building. FY25 filings are yet to be made public.
Still, the market opportunity — and investor confidence — is clear. As traditional savings habits meet tech-enabled convenience, Stable Money hopes to become the go-to destination for India’s fixed-income investment needs.
