Stable Money, a Bengaluru-based wealthtech platform, has raised $20 million (₹173 crore) in a Series B funding round led by Nandan Nilekani’s Fundamentum Partnership.
The round also saw participation from Aditya Birla Ventures and existing investors Z47, RTP Global, and Lightspeed.
This round also comes after just 10 months of their Series A round. Stable Money has previously raised $20 million across multiple funding rounds from a diverse set of investors, including Z47, Lightspeed, RTP Global, Marshot, as well as prominent angel investors such as Sriharsha Majety, Kunal Bahl and Rohit Bansal.
The company will deploy the fresh capital to innovate its wealth product offerings, deepen its partner network, and accelerate distribution.
Founded in 2022 by Saurabh Jain (former CEO of Navi Mutual Fund) and Harish Reddy, Stable Money enables users to invest in FDs without opening a savings account. Some of its features include a three-minute booking flow, instant withdrawals, a seven-day trial FD and FD-backed lifetime-free credit cards.
Stable Money began as a digital fixed deposit (FD) investment platform, targeting first-time wealth-tech users who prefer trust and predictability over risk. In early 2024, after securing a BSE OBPP license, the startup expanded to offer curated short-term corporate bonds, which now see an 80% uptake from fixed deposit (FD) users.
Stable Money has over 20 lakh users, with total assets under management now exceeding ₹3,000 crore across Fixed Deposits and Stable Bonds.
On the partnerships front, Stable Money aims to add at least eight new banks and NBFCs in 2025. It will also expand its marketing reach to connect with investors in Tier-2 and -3 towns, where the demand for secure, inflation-beating returns continues to grow.
Saurabh Jain and Harish Reddy, Co-founders of Stable Money, said, “Stable Money was founded on a simple belief: every Indian should have a safe, transparent way to grow their savings. With the support of Fundamentum and Aditya Birla Ventures and the continued trust of Z47, RTP Global and Lightspeed, we’re building on our momentum to create a category-defining platform. 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.”
Mayank Kachhwaha, Principal at Fundamentum said, “Stable Money is reimagining savings by building a highly trusted, digital-first fixed-income investment platform. They’ve blitzscaled from zero to over ₹3000 crore in AUM and have demonstrated 40 per cent growth over the last three months. The team has democratised access to fixed-income products and built incredible customer love along the way. They began with fixed deposits, and their story continues to grow with the launch of Stable Bonds. With Saurabh and Harish at the helm, Stable Money is well on its way to becoming a full-stack safety net for how India saves. At Fundamentum, we’re excited to be part of this scale-up journey.”
Nishit Garg, Partner at RTP Global, said, “We are always excited about startups building for India and solving India-specific challenges. We are excited to return as investors to support Stable Money in their mission to transform the fixed-return investment landscape in India. Betting on founders – Saurabh and Harish was an easy decision, given their rich experience and exceptional vision. We look forward to their continued success as they expand their offerings and reach more investors.”
Vikram Vaidyanathan, Managing Director at Z47, said, “We are seeing a generational shift in how Indians approach wealth, with a cohort of investors prioritizing long-term compounding of savings over short-term gains. Stable Money has built deep-trust on fixed income products and rapidly emerged as market leaders in a category of the future. We are proud partners to Saurabh, Harish and the Stable Money team from day zero and are excited to significantly up size our commitment here. We welcome Fundamentum to the partnership and wish the company godspeed on their journey ahead.”
Aryaman Vikram Birla, Founder, Aditya Birla Ventures, said, “With accelerating economic growth, India is poised to witness a transformative era of wealth creation. Tech-enabled investment solutions for retail investors are set to experience substantial growth. Stable Money, with its robust wealth-tech platform, is well-positioned to serve the evolving financial aspirations of rising ‘Middle India’. 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.”
