Stable Money Secures $25M Pre-Series C

This latest funding round was led by Peak XV Partners, with $20 million of the total coming from the venture firm. The pre-Series C financing boosts Stable Money's total capital raised to $65 million since its inception and sets its valuation at approximately $175 million. The Bengaluru-based wealthtech platform was founded in 2022 by co-founders Saurabh Jain and Harish Reddy. Their stated mission is to digitize and simplify access to fixed-income products for Indian households, a market segment where the majority of savings are traditionally held. Continued participation in the round came from existing investors, including Z47, RTP Global, and Fundamentum Partnership, which was co-founded by Nandan Nilekani. This signals strong ongoing support for the company's strategy and execution. Since launching, the platform has attracted over 5 million users. These users have collectively invested more than Rs 5,000 crore (approximately $600 million USD) in instruments like fixed deposits and corporate bonds. The company operates as a digital marketplace for low-risk investment instruments, partnering with 13 banks and other non-banking financial companies (NBFCs). This model aims to provide users with a transparent way to compare rates and manage investments without needing to open new savings accounts for each fixed deposit. A portion of the new capital is earmarked for an unconventional growth strategy for a digital-first company: expanding its physical footprint. The company plans to increase its on-ground presence from three to seven cities to build face-to-face relationships and foster trust with customers. Looking ahead, Stable Money aims to grow its business fivefold by the end of the year. The company is also exploring the expansion of its product suite to include complementary savings products like REITs and innovating on existing offerings such as FD-backed credit cards.