Stable Money secures $25 million from Peak XV Partners, others

Stable Money, a digital platform for fixed-income investments, has raised $25 million (around ₹226.8 Cr) in a Pre-Series C funding round led by Peak XV Partners.

The round also saw participation from existing investors Z47, RTP Global, and Fundamentum Partnership.

The startup will use the new funding to grow its marketing and launch more wealth-tech products on its platform. It will also spend part of the funds on building partnerships by bringing bond providers and banks onto the platform.

Read also- Razorpay partners with AI coding firm Replit to Localise Payments for Indian AI Developers

“Right now, we have 13 banks and NBFCs on the platform and we are adding seven more banks and NBFCs by the end of this year,” cofounder Saurabh Jain said.

“The funds will primarily be used to grow the business, our aim is to grow our customer base and scale by five times by the end of this year,” Jain said.

“We are currently operational in Delhi, Pune and Kolkata, we will grow to seven cities next,” he added.

Advertisment

“Stable Money has demonstrated exceptional clarity of focus in building a safety first investments platform. The team has combined strong product thinking and speed of execution, with a trust-first approach to simplify how Indians invest in stable and compounding investment options. Their rapid scale, deep bank partnerships, and disciplined execution stand out in a market where credibility matters most,” said Chinmaya Golecha, Principal, Peak XV Partners.

“We’ve had a front-row seat to Saurabh and Harish’s long-term commitment to building in fixed income since the early days. Over the years, they have demonstrated their conviction through building with clarity, discipline and by earning customer trust,” said Nishit Garg, Partner at RTP Global.

Founded in 2022 by Jain and Harish Reddy, Bengaluru-based Stable Money provides fixed-return investment options for retail investors. These include fixed deposits, debt mutual funds, bonds, and other low-risk assets that aim to deliver returns higher than inflation and help improve investors’ financial growth. It competes with platforms like groww, zerodha Coin, and Upstox.

With this latest funding round, Stable Money has raised about $65 million so far. Its investors include Aditya Birla Ventures, Mars Shot Ventures, Sriharsha Majety of Swiggy, Kunal Shah of CRED, and Rohit Bansal, cofounder of Snapdeal.

The startup claims to have more than 50 lakh users and has enabled investments worth over ₹5,000 crore on its platform.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Advertisment

Latest Business and Startup News: Discover Funding Trends and Stories Shaping Indian Startups.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges, and achieving succes.