Stable Money, a wealth tech startup in India, has raised $20 million in a Series B round led by Nandan Nilekani’s Fundamentum Partnership.
The round also saw participation from new investor Aditya Birla Ventures and returning backers Z47, RTP Global, and Lightspeed.
This funding comes 10 months after Stable Money raised nearly $15 million in its Series A funding round led by RTP Capital. The financing also saw participation from existing investors Lightspeed India and Matrix Partners.
Previously, the firm raised $5 million in its first equity fundraise led by Matrix Partners and Lightspeed in August 2023.
Since its 2022 launch, the platform claims to have onboarded 20 lakh users and grown assets under management (AUM) to over Rs 3,000 crore by offering products such as fixed deposits and listed bonds.
Founded by Saurabh Jain and Harish Reddy, Stable Money is positioning itself as a digital-first alternative for predictable, inflation-beating returns. The company’s offerings include a 3-minute FD booking flow, FD-backed lifetime-free credit cards, and instant redemptions.
With the fresh capital, Stable Money plans to launch new fixed-return products, expand into tier-2 and tier-3 towns, and deepen its partnerships with banks and NBFCs.
