Stable Money, an Indian-based wealth tech startup, is on the cusp of transformative growth as it secures an impressive $5 million in its recent seed funding round.
Founded by Saurabh Jain and Harish Reddy in 2022, the investment company is set to leverage these funds strategically to fortify its position in the competitive financial technology landscape by scaling up its fixed-return asset investment opportunities for retail investors, ranging from fixed deposits, debt mutual funds, bonds, and other low-risk asset classes.
At its core, the startup's innovative approach aims to provide investors with returns that outpace inflation and assist them in growing their wealth over the long term. Its commitment to financial inclusivity is evident with an investment threshold as low as INR1000 while eliminating the necessity for new bank accounts.
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Now, Stable Money is targeting a substantial market segment of over 300 million Indians seeking attractive, low-risk returns. The infusion of $5 million will help fuel Stable Money's key initiatives on multiple fronts including senior leadership recruitment, forging crucial financial partnerships, scaling its operations, and advancing its technological infrastructure.
Matrix Partners India and Lightspeed, both prominent venture capital firms, spearheaded this funding round, with participation from respected entities such as Titan Capital and Mar Shot Ventures and a number of angel investors, including well-known names such as Kunal Bahl, Rohit Bansal, Harsha Majety (Co-founder and CEO of Swiggy) and other industry leaders from, Tracxn, M2P Fintech, Livspace, and Mosaic Wellness.