Stable Money Lands $15 Million

Bengaluru-based wealthtech startup Stable Money has successfully raised $15 million in a fresh funding round, demonstrating strong investor confidence in the company’s innovative financial solutions.

• Fundraising: Stable Money secured over Rs 123 crore (approximately $15 million) from prominent investors, including RTP Capital, Lightspeed India, and Matrix Partners.

• Notable Achievement: This is Stable Money's second funding round within a year, a significant milestone amid a challenging fundraising environment.

• Special Resolution: The board issued 77,135 Compulsorily Convertible Preference Shares (CCPS) at Rs 16,019 each, totaling Rs 123.56 crore ($14.74 million).

• Previous Round: In August 2023, Stable Money raised $5 million in its initial equity round, led by Matrix Partners and Lightspeed, with participation from Titan Capital, Mar Shot Ventures, and notable angel investors.

• Company Overview: Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is focused on developing a fixed-return investment platform.

Stable Money's latest funding round underscores the growing interest and confidence in wealthtech solutions, even amidst a challenging funding environment.