Stable Money, a wealthtech startup based in Bengaluru, has raised $5 million in its initial equity funding round. Titan Capital, Mar Shot Ventures, and a number of well-known angel investors joined venture capitalists Matrix Partners and Lightspeed in leading the round.
Famous angel investors who took part in the round included Swiggy co-founder Sriharsha Majety, M2P Fintech co-founder Madhusudanan, and Snapdeal co-founders Kunal Bahl and Rohit Bansal, as per reported by The Economic Times.
“We are creating a platform for fixed-return investment options for Indians. We are starting with fixed deposits but will expand into corporate bonds, sovereign gold bonds (SGBs) and government bonds,” said Saurabh Jain, cofounder, Stable Money
The money will be used by Stable Money to increase the employment of senior leadership, create financial alliances, expand technology, and create an approachable mobile app for a variety of fixed-return investment opportunities.
About Stable Money
By using fixed-income assets, Stable Money was launched in 2022 by Harish Reddy and Saurabh Jain with the goals of assisting people in accomplishing their financial goals and growing their money in a secure and stable manner.