India, June 3 -- Update | June 3, 11:30 AM

Days after it was reported that Stable Money is set to raise INR 173 Cr ($20 Mn), the fintech startup has announced securing the funding as a part of its Series B funding round.

The round was led by Nandan Nilekani's Fundamentum Partnership, with participation from Aditya Birla Ventures and existing investors Z47, RTP Global and Lightspeed.

The startup plans to deploy the newly raised capital in building its wealth product offerings, while also deepening its partner network and accelerating distribution.

Further, it looks to partner with at least eight new banks and NBFCs in 2025. Additionally, it is planning to expand its marketing reach to connect with investors in Tier II and III towns, ba...