Fixed Return Investment platform Stable Money has secured $5 million, to accelerate top management acquistion, ink financial partnership, new technology development as well as develop a mobile app for diversified fixed return investment opportunities.
Stable Money was founded in 2022 by Harish Reddy and Saurabh Jain, to offer individuals with reliable fixed-income investment opportunities. The platform discovers FD interest rates from more than 200+ banks, enabling customers to seamlessly manage and monitor their FDs using intuitive digital tools.
Co-founder Surabh Jain said “We will be focused on consolidating the founding team and tech infrastructure for top-notch data security. We are also investing time and financial resourced to forge partnerships with financial institutions.
Furthermore, the funds will be deployed to make easy-to-use applications for our customers, facilitating them to efficiently book FDs, explore diverse debt products, and gain access to premium, well-diversified fixed-return investment opportunities,” Co-founder Saurabh Jain said.
“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,” said Harish Reddy and Jain.
The seed round was led by Matrix Partners India and Lightspeed Venture Partners, with participation from Titan Capital, Mar Shot Ventures, and prominent angel investors.
Angel investors, including Kunal Bahl and Rohit Bansal (Co-founders, Snapdeal), Harsha Majety (Co-founder and CEO, Swiggy), Sandeep Tyagi (Chairman and MD, Estee Advisors), Abhishek Goyal (Co-founder, Tracxn), Madhusudanan (Co-founder, M2P Fintech), Ramakant Sharma (Founder, Livspace), and Revant Bhate (CEO, Mosaic Wellness), also participated in the round.
