Stable Money raises over Rs 123 Cr in Series A CCPS round

Wealthtech startup Stable Money raised Rs 123.56 crore in a round of funding 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 Rs 16,019 each.

With 33,877 shares, RTP Capital contributed Rs 54.26 crore, followed by Mauritius-based Lightspeed India with 21,629 shares and Rs 34.64 crore, and USA-based Matrix Partners India Investments IV LLC with 20,342 shares and Rs 32.58 crore.

Founded in 2022 by Harish Reddy and Saurabh Jain, Stable Money provides individuals with reliable fixed-income investment opportunities. The Bengaluru-based company raised a funding of $5 million in its Series A round in August last year.

According to data intelligence platform Tracxn, the company’s top competitors include Grip, Wint Wealth, Giraffe and GoldenPi. As a fixed-income asset investment platform, the company provides clients with stable returns from a range of products including debt mutual funds, government bonds, sovereign gold bonds, and more.