Thursday, February 22, 2024
HomeInsightFunding Alert Stable Money Secures $5 Mn From by Matrix Partners

[Funding alert] Stable Money Secures $5 Mn From by Matrix Partners

The fixed-return investment platform Stable Money received $5 million in a seed round headed by Matrix Partners India and Lightspeed Venture Partners, with participation from Titan Capital, Mar Shot Ventures, and well-known angel investors.

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.

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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.

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“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.

Read also – [Funding alert] Harmony Organics Secures Rs 225 Cr From Piramal Alternatives

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.

Read also – [Funding alert] Waree Energy Secures Rs 1000 Cr In Equity Funding From ValueQuest

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