Stable Money is a wealth tech startup that raised $15 million in its funding round. The round was led  by RTP Capital, with the participation of other investors including Matrix Partner and Lightspeed India.  RTP Capital led the round with Rs 54.26 crore followed by Lightspeed India with Rs 34.64 crore and a  $4.15 investment was made from the Matrix Partners.  

The board has approved a resolution to allot 77,135 CCPS at an issue price of Rs 16,019 each to raise $14.74 million. According to the company filing, the startup will use these fresh proceeds to spread its  network and meet working capital needs. Founded by Harish Reddy and Saurabh Jain, this startup  specializes in providing financial consultation and financial management advice to investors. The  startup provides a financial services platform that publishes financial literacy content to spread  awareness among investors. The application also uses cutting-edge technology to offer its customers  financial advisory, transaction capabilities, and access to wealth management advisors. This  investment shows the trust of investors in Stable Money’s market potential and business model. 

The startup previously secured $5 million in its equity funding round led by Lightspeed and Matrix  Partners with the participation of Titan Capital, Mar shot Ventures, and several angel investors. The  startup data intelligence platform, the kredible predicted the startup’s post-money valuation to be  around $55 million. This marks a three-fold increase compared to last year’s valuation of $16.5 million. The platform has encrypted and secured data that is only used while making transactions to help the  users select the right investment choice. 

The startup claims to process investment requests in 24 hours. The company will be using this fund to offer a seamless user experience, strengthen its platform, make it more secure, develop its market  presence, and expand across the country. Stable Money intends to use this amount to scale its services,  offer more categories, and advance its technology. The Bengaluru startup offers a platform that  compares FD interest rates with over 200 bands and allows its customers to manage and choose the  best suitable FD. The company provides digital tools to manage and track FDs offering both efficiency  and speed in the process helping users to make faster and more efficient investments with the  platform. 

Conclusion: 

Stable Money is a Bengaluru-based wealth tech startup offering an online platform that provides financial consultation to investors. The startup got fresh capital of $15 million from RTP Capital, Matrix  Partners, and Lightspeed India. The funding round had participation from other investors including  some angel investors. The company plans to use this amount to scale up its services, expand its  offerings, and advance its technology. RTP Capital led the round with Rs 54.26 crore followed by  Lightspeed India with Rs 34.64 crore and a $4.15 investment was made from the Matrix Partners. The  company’s board approved the resolution to allot 77,135 CCPS at an issue price of Rs 16,019 each to  raise $14.74 million