Bengaluru-based Stable Money secures $20 million in series B funding

Stable Money, a fixed income investment fintech, secured $20 million in a series B funding round within a year of raising $15 million in a series A round in July last year.

 

The Bengaluru-based company secured the latest round of funding from Nandan Nilekani’s Fundamentum Partnership, Aditya Birla Ventures and participation from all the existing investors such as Z47, RTP Global and Lightspeed.

 

In total, the company has raised $45.3 million in funding, data from market intelligence platform Tracxn shows.

 

The company plans to add eight new banks and non-banking financial companies (NBFCs) in 2025 as partners. It aims to expand marketing to Tier II and III towns, where ‘demand for secure, inflation-beating returns continues to grow’. 

 

 

The fresh capital from the series B funding round will enable the company to innovate on its wealth product offerings, deepen its partner network and accelerate distribution, the company said.

 

‘This funding is a strong vote of confidence in our mission to deliver predictable, inflation-beating returns to millions of households, and will help us further strengthen our user experience, expand our partner network and reach investors across every corner of India,’ said Saurabh Jain and Harish Reddy, co-founders, Stable Money, in a joint statement.

 

The company has more than two million registered users. It offers financial products such as fixed deposits in partnerships with regulated entities (REs) and bonds.  ALSO READ: Indian startups face funding, regulation, trust challenges: Rukam founder

 

‘With strong belief in the capabilities of the founding team, this investment aligns with our vision to back outstanding founders building the businesses of tomorrow. Our endeavour is to open up ABG’s global ecosystem and network for the growth of our portfolio companies,’ said Aryaman Vikram Birla, founder, Aditya Birla Ventures.