Investment Platform Stable Money raises $5m in Seed funding

By Gloria Mathias

Stable Money, an India-based fixed-return investment platform, raised $5 million in a seed round led by Matrix Partners India and Lightspeed, with participation from Titan Capital, Mar Shot Ventures, and prominent angel investors.

With the funds, Stable Money will develop a user-friendly mobile app for iOS and Android, empowering users to effortlessly book FDs, explore diverse debt products, and access premium, well-diversified fixed-return investment opportunities.

Stable Money seeks to democratize fixed-return asset investments for retail investors, offering access to Fixed Deposits, Debt Mutual Funds, and bonds, along with a range of low-risk asset classes delivering inflation-beating results to enhance their financial prospects.

Saurabh Jain and Harish Reddy, Co-founders of Stable Money stated, “We aim to revolutionize India’s preferred asset class by reinventing Fixed Deposits. While equities and mutual funds are readily available on various platforms, we recognize the lack of opportunities for Fixed return products. At Stable Money, we aim to provide a secure portfolio that acts as a financial safety net during challenging times for Indian investors, offering safe investment options. Our journey begins with Fixed Deposits, where we bring the advantage of the current five-year high-interest rates”.

By offering access to high-interest rates in safe assets, the company aims to seize this large market opportunity with diverse investment options from multiple banks on a single platform, addressing the needs of Indians seeking attractive low-risk returns.

Vikram Vaidyanathan, Managing Director, Matrix Partners India shared, “Wealth tech is now a “pull” category for Indians with Indians trusting online platforms with their hard-earned savings. Stable Money enables these retail investors to access a range of wealth products starting with stable fixed-income products like FDs, ensuring a seamless experience. We believe we are at an inflexion point in India’s wealth story and are excited to partner with Harish, Saurabh, and the Stable Money team as they build a truly world-class FinTech organization!”