Wealthtech Startup Stable Money Secures INR 123 Cr in New Funding Round Led by RTP Capital, the latest funding round saw participation from Lightspeed India, and Matrix Partners India.
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Wealthtech startup Stable Money has raised over INR 123 crore (nearly USD 15 million) in a new funding round led by Cyprus-based RTP Capital and saw participation from Lightspeed India, and Matrix Partners.
According to the company's filings, 77,135 Series A Compulsory Convertible Preference Shares (CCPS) were issued at INR 16,019 each.
RTP Capital led the round with 33,877 shares, contributing INR 54.26 crore. Mauritius-based Lightspeed India followed with 21,629 shares and INR 34.64 crore, while USA-based Matrix Partners India Investments IV LLC invested INR 32.58 crore for 20,342 shares.
In August 2023, Stable Money secured USD 5 million in its first equity fundraise led by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures, and prominent angel investors also participated in the round.
Founded in 2022 by Saurabh Jain and Harish Reddy, the Bengaluru-based company is developing a fixed-return investment platform to offer financial advisory services to investors.
Stable Money aims to raise awareness among investors by posting financial literacy content on its web platform.
