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.

Mayank Kachhwaha, Principal at Fundamentum, said: “Stable Money is reimagining savings by building a highly trusted, digital-first fixed-income investment platform. They’ve blitzscaled from zero to over Rs 3,000 crore in AUM and have demonstrated 40% growth over the last three months.”

Vikram Vaidyanathan, Managing Director at Z47, described the company as a leader in “a category of the future.” He added, “Stable Money has built deep trust on fixed income products and rapidly emerged as market leaders.”

“Stable Money, with its robust wealth-tech platform, is well-positioned to serve the evolving financial aspirations of rising ‘Middle India’. This investment aligns with our vision to back outstanding founders building the businesses of tomorrow,” said Aryaman Vikram Birla, Founder of Aditya Birla Ventures, commented,

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.