New Delhi, Feb. 18 -- Stable Money has raised $25 million (around Rs 226.7 crore) in a Pre-Series C round led by Peak XV Partners, with continued participation from existing investors Z47, RTP Global and Fundamentum Partnership. The Bengaluru-based fixed-income investment platform has now raised a total of $65 million since its launch in 2022.
The company said it will use the new capital to strengthen its core fixed income platform, expand into adjacent savings products, build an on-ground presence in key cities and deepen partnerships with banks and non-banking financial companies (NBFCs).
Founded by Saurabh Jain and Harish Reddy, the platform allows users to book fixed deposits without opening a savings account, access instant withdrawals, invest in short-term deposits, including seven-day FDs, and unlock secured lifetime free credit cards.
The company said more than 30 lakh users have invested over Rs 5,000 crore over the platform across fixed deposits, stable bonds and related products. India has over 230 million fixed deposit users, and the category is growing at roughly 12% annually. "Their rapid scale, deep bank partnerships, and disciplined execution stand out in a market where credibility matters most," said Chinmaya Golecha, principal, Peak XV Partners.
"Stable Money has quickly emerged as a category leader with its promise of stable wealth creation and a differentiated product experience that has won the trust of first time investors," said Vikram Vaidyanathan, investor and managing director at Z47.
RTP Global, which has backed the company since its Series A and Series B rounds, also participated in the financing. "Our continued participation across rounds reflects our belief not only in the founders but also in the large, enduring opportunity they are addressing," said Nishit Garg, partner at RTP Global.
Published by HT Digital Content Services with permission from VC Circle.