Wealthtech startup Stable Money raises $20 million in round led by Nilekani’s Fundamentum Partnership

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Here’s a structured summary based on the information provided:

Startup Details

  • Startup Name: Stable Money
  • Founded: 2022
  • Location: Bengaluru, India
  • Product Focus: Digital fixed-return investment products (including FDs, RDs, and bonds)

Founders

  • Saurabh Jain: Co-founder (Former CEO of Navi Mutual Fund)
  • Harish Reddy: Co-founder (Former roles at the broking firm Estee)

Recent Funding Round

  • Amount Raised: $20 million (Rs 173 crore)
  • Funding Series: Not specified (latest funding round)
  • Date of Funding: Not explicitly mentioned

Leading Investors

  • Lead Investor:
    • Nandan Nilekani (Cofounder of Infosys) through Fundamentum Partnership
  • Existing Backers:
    • Z47
    • RTP Global
    • Lightspeed
    • Aditya Birla Ventures

Previous Fundraising

  • Total Raised Prior: $20 million across multiple rounds
  • Other Notable Investors:
    • Sriharsha Majety (Cofounder of Swiggy)
    • Kunal Bahl and Rohit Bansal (Titan Capital)

Company Metrics

  • Total Assets Under Management (AUM): Over Rs 3,000 crore
  • User Base: More than 150,000 users

Future Plans

  • Expansion:
    • Plans to onboard at least eight new banks and non-banking finance companies (NBFCs) by 2025.
    • Focus on customer acquisition, especially in tier-II and tier-III cities.

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2025-06-03 00:30:00