Stable Money raises $5M led by Matrix Partners India and Lightspeed

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Bengaluru, Tuesday, 8th August, 2023: India's first of its kind Fixed-Return Investment Platform, Stable Money, raised $5 Million in a seed round led by Matrix Partners India and Lightspeed, with participation from Titan Capital, Mar Shot Ventures and prominent angel investors. The funds will be deployed to bolster senior leadership hiring, forge financial partnerships, build technology and develop a user-friendly mobile app for diversified fixed-return investment opportunities.

The round saw participation from renowned angel investors including Kunal Bahl & Rohit Bansal (Co-Founders, Snapdeal), Harsha Majety (Co-founder and CEO of Swiggy), Sandeep Tyagi (Chairman & MD of Estee Advisors), Abhishek Goyal (Co-Founder of Tracxn), Madhusudanan (Co-founder of M2P Fintech), Ramakant Sharma (Founder of Livspace), and Revant Bhate (CEO of Mosaic Wellness).

Stable Money seeks to democratize fixed return asset investments for retail investors, offering access to Fixed Deposits, Debt Mutual Funds and bonds, along with a range of low-risk asset classes delivering inflation-beating results to enhance their financial prospects. Amidst a lack of innovation and technological transparency in the traditional fixed return assets, which constitute approximately 70% of Indian household savings (with around 45% in FDs), a significant opportunity arises to revamp and bridge the gap.

By offering access to high-interest rates in safe assets the company aims to seize this large market opportunity with diverse investment options from multiple banks on a single platform, addressing the needs of over 300 million Indians seeking attractive low-risk returns. With investments starting as low as Rs 1000 and no need of new bank accounts, Stable Money makes it inclusive and convenient for investors of all backgrounds to participate.

Stable Money is actively forging partnerships to establish deep collaborations with over 10 banks by the end of 2023. The goal is to integrate with 25 + banks and RBI regulated institutes by the end of 2024. These strategic alliances will ensure that investors receive their investment receipts directly from trusted partner banks and NBFCs upon booking, adding an extra layer of transparency and reliability to the investment process.

With the funds, Stable Money will develop a user-friendly mobile app for both iOS and Android, empowering users to effortlessly book FDs, explore diverse debt products, and gain access to premium, well-diversified fixed-return investment opportunities.

Commenting on the funding and the platform's vision, Saurabh Jain and Harish Reddy, Co-founders of Stable Money, stated, “We aim to revolutionize India's preferred asset class by reinventing Fixed Deposits. While equities and mutual funds are readily available on various platforms, we recognize the lack of opportunities for Fixed return products. Fixed Deposits have long been the top choice due to their safety from market volatility, simplicity, and rising interest rates. At Stable Money, our mission is to provide a secure portfolio that acts as a financial safety net during challenging times for Indian investors, offering safe investment options. Our journey begins with Fixed Deposits, where we bring the advantage of the current five-year high interest rates”.

Vikram Vaidyanathan, Managing Director, Matrix Partners India, shared “Wealth tech is now a “pull” category for Indians with Indians trusting online platforms with their hard earned savings. As the Indian GDP explodes and the middle-income segment prospers, there is a need for tech-first wealth platforms but many will start with products that are familiar to them. Stable Money is enabling these retail investors to access a range of wealth products starting with stable fixed-income products like FDs ensuring a seamless experience. We believe we are at an inflexion point in India's wealth story and are excited to partner with Harish, Saurabh, the Stable Money team, as they build a truly world-class fintech organization!”

Shuvi Shrivastava, Partner, Lightspeed “We are excited to partner with the mission driven Stable Money team as they work to pave the way for a more responsible and secure financial future for millions of Indian households. The experience of the founding team, and their drive for innovation and impact in a segment largely dominated by short-term trends, is energizing. Stable Money's approach will redefine the way people manage their hard earned money and grow their investments with trust, transparency and technology.”

While initially offering Fixed Deposits, the platform is planning to expand its services to include Mutual Fund products and Bonds in the near future.

About Stable Money:
Stable Money is a cutting-edge marketplace that specializes in providing individuals with reliable fixed-income investment opportunities. The platform explores FD interest rates from over 200+ esteemed banks, allowing customers to effortlessly manage and track their FDs using intuitive digital tools. With a strong emphasis on financial stability and user-friendly technology, Stable Money aims to empower investors and assist them in achieving their unique financial goals. With an initial focus on fixed deposits, Stable Money aims to expand its offerings to include a diverse range of investment avenues in the future. By combining financial stability with user-friendly technology, Stable Money aims to create a trustworthy environment where customers can explore various investment opportunities.

Stable Money recognizes the criticality of effective FD management and monitoring, which is why it provides investors with user-friendly digital tools that empower them to oversee their investments with ease. These tools enable hassle-free transactions across various banks, ensuring utmost convenience for clients. Moreover, the company places great emphasis on maintaining high levels of security and transparency, offering customers a sense of reassurance and peace of mind as they engage in their investment activities on the platform. Website link:

About Matrix Partners India:
Founded in 2006, Matrix Partners India invests in companies targeting the Indian consumer and enterprise market and has invested in several category-leading companies such as Razorpay(Payments), Five Star Business Finance (SME Lending), OneCard (Mobile-first credit card), Ola(Mobility), Ola Electric (Electric Vehicles), Dailyhunt (Local language platform), OfBusiness (B2B commerce, fintech), Oxyzo (Tech-enabled smart financing), Captain Fresh (B2B seafood marketplace), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), MoEngage (Customer engagement platform), Mswipe (Mobile POS), Stanza Living (Tech-enabled student housing platform) and Zupee (Skill-based gaming) among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.

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