Stable Money Raises $20M Series B to Expand Fixed-Income Wealthtech

Stable Money, a Bengaluru-based wealthtech platform founded in 2022 by Saurabh Jain and Harish Reddy, has raised $20 million in a Series B funding round led by Nandan Nilekani's Fundamentum Partnership, with participation from Aditya Birla Ventures and existing investors Z47, RTP Global, and Lightspeed. The platform, which started as a digital fixed deposit (FD) investment service, now manages over Rs 3,000 crore in assets and serves more than 20 lakh users, primarily targeting first-time wealth-tech investors in Tier II and III cities. Stable Money offers short-duration corporate bonds with quick liquidity, secured credit cards backed by FDs, and is piloting debt and gold mutual funds alongside loan-against-FD products, focusing on building trust and predictable, inflation-beating returns. The new capital will be used to expand product offerings, deepen partnerships with banks and NBFCs, including plans to add at least eight more financial institutions in 2025, and scale both online and offline distribution channels. Its approach emphasizes safe, transparent savings solutions without requiring a savings account, featuring instant withdrawals and trial FDs, aimed at bridging wealth management access gaps in smaller towns. Despite rapid growth and scaling, Stable Money was in the pre-revenue stage for FY25, emphasizing future potential and market leadership in fixed-income digital investments.