India, May 23 -- Bengaluru-based fintech startup Stable Money is set to raise INR 173 Cr ($20 Mn) in a fresh funding round led by The Fundamentum Partnership Fund, with participation from existing investors Lightspeed India, Matrix Partners and RTP Global.

As per its filings with the Registrar of Companies (RoC), the wealthtech startup has issued 10 equity shares and 51,914 Series B compulsorily convertible preference shares (CCPS) at an issue price of INR 33,345 each, aggregating to INR 173.1 Cr.

The filings, accessed by Inc42, showed that Nandan Nilekani cofounded Fundamentum is investing INR 86.5 Cr ($10 Mn) in the funding round from The Fundamentum Partnership Fund II.

Entrackr reported the development first.

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