Stable Money raises $20M in series B led by Nilekani’s Fundamentum

Stable Money, a digital investment platform focused on fixed-income products, has raised $20 million in a Series B funding round led by Nandan Nilekani-backed Fundamentum Partnership. The round also saw participation from Aditya Birla Ventures and existing investors Z47, RTP Global, and Lightspeed.

The Bengaluru-based fintech, founded in 2022, claims to be having over 20 lakh users and over Rs 3,000 crore in assets under management (AUM) across fixed deposits and recently introduced “Stable Bonds.”

The company said it plans to use the fresh capital to expand its product suite, deepen its partner bank and NBFC network, and scale its distribution, particularly in Tier II and Tier III towns.

"Stable Money was founded on a simple belief: every Indian should have a safe, transparent way to grow their savings," said co-founders Saurabh Jain and Harish Reddy in a joint statement. "This funding is a strong vote of confidence in our mission to deliver predictable, inflation-beating returns to millions of households."

Stable Money, which bills itself as India’s first digital fixed-deposit marketplace, enables users to invest in FDs without opening a savings account. Some of its features include a three-minute booking flow, instant withdrawals, a seven-day trial FD, and FD-backed lifetime-free credit cards.

"We are always excited about startups building for India and solving India-specific challenges. We are excited to return as investors to support Stable Money in their mission to transform the fixed-return investment landscape in India. Betting on founders - Saurabh and Harish was an easy decision, given their rich experience and exceptional vision," Nishit Garg, Partner at RTP Global, said.

Vikram Vaidyanathan, Managing Director at Z47, said, "We are seeing a generational shift in how Indians approach wealth, with a cohort of investors prioritising long-term compounding of savings over short-term gains. Stable Money has built deep-trust on fixed income products and rapidly emerged as market leaders in a category of the future. We are proud partners to Saurabh, Harish, and the Stable Money team from day zero, and are excited to significantly up size our commitment here."

"With accelerating economic growth, India is poised to witness a transformative era of wealth creation. Tech-enabled investment solutions for retail investors are set to experience substantial growth. Stable Money, with its robust wealth-tech platform, is well-positioned to serve the evolving financial aspirations of rising 'Middle India'," Aryaman Vikram Birla, Founder, Aditya Birla Ventures, said.

Stable Money has now raised a total of $40 million across multiple rounds. Previous backers include Marshot and prominent angel investors such as Sriharsha Majety, Kunal Bahl, and Rohit Bansal.

India’s fixed deposit market, with over 230 million account holders, continues to grow at 12% annually. Stable Money is targeting a leading position by adding at least eight new banking and NBFC partners in 2025.