Stable Money raises $15 million from RTP Global, Z47 and others

Stable Money raises $15 million

WealthTech platform Stable Money, run by former Navi Mutual Fund chief executive Saurabh Jain, has raised $15 million in its Series A funding round led by from RTP Global and Z47, previously Matrix Partners India.

Lightspeed, Titan Capital and other existing investor also participated in the round, the startup said on July 30.

"We celebrated this milestone by visiting them with sweets — here’s a small video from that joyous weekend... We’re also grateful to our investors— RTP Global, Z47 (fka Matrix Partners India), Lightspeed, Titan Capital, and others," firm's cofounder Saurabh Jain said in the LinkedIn post.

Jain and Harish Reddy founded Stable Money in 2022. Jain was earlier with Sachin Bansal-backed Navi Mutual Funds.

Stable Money offers fixed-return asset investment products to retail investors, providing access to fixed deposits, debt mutual funds and bonds, along with a range of low-risk asset classes.

In August of 2023, it raised $5 million in its seed funding round led by Matrix Partners India and Lightspeed.

The firm is also backed by angel investors including Kunal Bahl & Rohit Bansal, cofounders of Snapdeal, Harsha Majety, cofounder and CEO of Swiggy, Sandeep Tyagi Chairman & MD of Estee Advisors and Abhishek Goyal, cofounder of Tracxn .