Stable Money raised $25 million in funding led by PeakXV, eight months after $20 million funding

Stable Money Founders

• Stable Money raised $25 million led by Peak XV Partners
• Total funding now $65 million, aims for Rs 30,000 cr FDs monthly
• Over 50 lakh users, Rs 5,000 cr invested in fixed income products

Did our AI summary help?

Fixed income platform Stable Money has raised $25 million in funding led by Peak XV Partners, as exclusively reported by Moneycontrol last year.

The pre-series C round saw participation from Z47 (formerly Matrix Partners), RTP Global, and Fundamentum Partnership, and the total funding raised to date has reached $65 million.

Founder Saurabh Jain told Moneycontrol that despite several fintechs pushing for multiple equity-led investments, lending and insurance products, the company will stay true to its origin in the near-term as a fixed-income platform.

Late last year, the company launched gold and silver exchange traded fund (ETF), as many customers feel that gold and silver are fixed investment asset classes, he said.

Jain said that over the next couple of years, the company could aim to garner Rs 30,000 crore worth of FDs every month. The company offers a fully digital FD booking experience, reaching customers who are otherwise bound by geography and branches near them.

“FDs continue to be India’s most trusted and used savings product and will continue to do so. Almost two-thirds of our customers come from tier-2 cities and beyond,” Jain said.

Founded in 2022, the platform has built a user base of over 50 lakh investors and facilitated more than Rs 5,000 crore in investments in fixed income products such as FDs, corporate and government bonds, apart from Gold and Silver ETFs. It also offers FD-backed credit cards from select small finance banks.

Jain said that the company earns a blended margin of around 0.6 per cent on total assets under management, ensuring steady revenue. It is looking to make profits by end of FY 27, he added.

According to the company, over 23 crore Indians rely on FDs as an investment or savings, with the FD AUM growing at around 12 percent annually. With the new funding, the company will use the funds to reach more customers physically to build trust through face-to-face relationships, especially relevant for customers in many tier 2 and tier 3 cities.

The company continues to onboard more banks and NBFCs to widen customer choice and enable smarter rate discovery.

“The team has combined strong product thinking, speed of execution, with a trust-first approach to simplify how Indians invest in stable and compounding investment options. Their rapid scale, deep bank partnerships, and disciplined execution stand out in a market where credibility matters most,” Chinmaya Golecha, principal at Peak XV Partners said in a media statement.

Nishit Garg, Partner at RTP Global, said that the company has demonstrated that FDs form a large opportunity, and it is redefining how India invests.