Total amount raised
$19.8 Millions
Latest funding date
Location
Title
Stable Money has successfully raised $15 million in its latest funding round, attracting investments from notable firms like RTP Global and Z47. The platform offers fixed-return investment options, including fixed deposits, debt mutual funds, and bonds, aiming to provide users with secure and stable growth opportunities.
Keep reading to delve into the details of Stable Money's funding journey and the investors who are backing this promising financial platform.
What Is Stable Money?
Stable Money, founded in 2022, is a financial platform based in Bangalore, Karnataka, India. The company was established by Harish Reddy and Saurabh Jain.
Specializing in fixed-return investments, Stable Money offers products like fixed deposits, debt mutual funds, and bonds. The platform aims to provide secure and stable growth opportunities for its users.
With a team of 11-50 employees, Stable Money continues to expand its offerings and solidify its presence in the financial services sector.
How Much Funding Has Stable Money Raised?
- Amount Raised: $5 million
- Date: August 2023
- Lead Investors: Matrix Partners, Lightspeed
- Valuation at Round: $16.5 million
- Motivation Behind the Round: Initial development and scaling efforts.
- Amount Raised: $15 million
- Date: July 2024
- Lead Investors: RTP Global, Lightspeed India, Matrix Partners
- Valuation at Round: $55 million
- Motivation Behind the Round: Further development of the investment platform and expansion of financial services.
Total amount raised: $20 million. Current valuation: $55 million.
Key Investors
- Lightspeed India Partners
- Details: Lightspeed India Partners is a venture capital firm that focuses on early and growth-stage investments. They have a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, consumer, enterprise sectors
- Notable Investments: OYO Rooms, Byju's, Udaan
- Z47
- Details: Z47 is an investment firm known for backing early-stage technology companies. They have a reputation for identifying high-potential startups.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Information not publicly disclosed
- RTP Global
- Details: RTP Global is a venture capital firm that invests in early-stage technology companies worldwide. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, fintech, healthcare
- Notable Investments: Delivery Hero, Cred, Practo
- Matrix Partners India
- Details: Matrix Partners India is a venture capital firm that focuses on early-stage investments. They are known for their deep involvement in the growth of their portfolio companies.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Ola, Practo, Dailyhunt
- Titan Capital
- Details: Titan Capital is an early-stage investment firm that supports startups across various sectors. They are known for their strategic investments in high-growth companies.
- Investment Focus Areas: Technology, consumer, fintech
- Notable Investments: Snapdeal, UrbanClap, Mamaearth
What's Next for Stable Money?
Stable Money is poised to capitalize on the burgeoning demand for fixed-return investments and financial advisory services. With a recent $15 million funding boost, the company is well-positioned to expand its platform and enhance its offerings. The significant increase in valuation to $55 million underscores the vast potential in this sector.
Future fundraising opportunities seem promising, given the successful rounds within a year. However, navigating the "funding winter" and competing with other well-funded wealthtech startups will be challenging. Maintaining growth momentum and ensuring regulatory compliance will be crucial as Stable Money continues to scale.
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