Bengaluru-based wealthtech startup Stable Money has secured $25 million (approx. ₹226.8 crore) in a Pre-Series C funding round led by marquee investor Peak XV Partners (formerly Sequoia India).
Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money is carving a unique niche in India's crowded investment landscape. While platforms like Groww and Zerodha focus heavily on equity markets, Stable Money doubles down on "fixed-return" assets—a category that resonates deeply with the risk-averse Indian saver.
FounderStory Intelligence
Making Fixed Income Cool Again
The startup provides retail investors access to Fixed Deposits (FDs), Debt Mutual Funds, and Bonds. In an era of volatile equity markets, Stable Money's value proposition is simple: "Inflation-beating returns with low risk."
The platform currently hosts 13 banks and NBFCs and plans to add seven more by year-end. This marketplace model allows users to compare FD rates across institutions and book them instantly without opening new bank accounts.
Strategic Backing
Alongside Peak XV, the round saw participation from existing investors Z47 (Matrix Partners India), RTP Global, Lightspeed, and Fundamentum Partnership. The fresh capital will be used to fuel marketing, launch new wealthtech products, and deepen partnerships with bond suppliers.
"Right now, we have 13 banks and NBFCs on the platform and we are adding seven more banks and NBFCs by the end of this year."
FounderStory Takeaway
While everyone was busy building "Robinhood for India," Stable Money identified a massive, underserved market: the conservative saver who wants better-than-savings-account returns but fears the stock market. With Peak XV's backing, they are well-positioned to become the default "Safe Asset" platform for millions of Indians.