Stable Money has officially kicked off its Series C funding round by raising ₹136 crore (approximately $14.3 million). The capital infusion is being led by The Fundamentum Partnership. The funding is being sourced entirely from the company’s existing investor group. Other leading VC firms involved in the round include Peak XV Partners, RTP Global and Z47, formerly Matrix Partners.

Share allotment and breakdown of transactions

The investment is the second significant financial boost that Stable Money has received since the end of last year. The wealthtech platform had raised $25 million earlier in February in a financing round led by Peak XV Partners, which had valued the company at $175 million. 

The newest Series C round signifies ongoing support from institutional investors that have previously funded the company’s expansion and financial products. In accordance with regulatory disclosure made to the Registrar of Companies (RoC), the board of directors at Stable Money approved the issuance of equity and preference shares as part of this financing round. 

Specifically, the Board authorized issuance of 1,318 equity shares and 20,591 Series C preference shares. The company sold shares at a face value of ₹62,167.9 and has collected aggregate proceeds amounting to ₹136.2 crore (approximately $14.3 million).

A detailed breakdown of the transaction element indicates individual institutional commitments in this tranche. The Fundamentum Partnership led this allotment with an investment of ₹73.76 crore (approximately $7.8 million). Peak XV Partners had invested ₹22 crore in the company. RTP Global and Z47 matched each other’s contribution with a commitment of ₹20.2 crore each to complete the tranche.

Valuation growth and financial performance

According to estimates, the recent capital flow has increased the valuation of Stable Money by 56%. After its earlier pre-Series C round financing, where it was valued at ₹1,607 crore (roughly $175 million), the firm’s valuation has risen to ₹2,507 crore (nearly $264 million). 

Z47 has remained the primary external shareholder in Stable Money with an equity stake of 17.73%. RTP Global is closely followed by the second largest external holding at 12.82%, and an 11.69% stake is held by Peak XV Partners. The Fundamentum Partnership increased its ownership stake to 9.9% by playing a major role in the primary round. The overall percentage of the equity owned by the co-founders has been brought down to 29.04%.

Stable Money was established in 2022 by the co-founders, Saurabh Jain and Harish Reddy. Stable Money is an online wealthtech platform focused on offering fixed income financial products. 

For any normal investor, the platform lets them analyze, compare, and invest in fixed deposits of all diverse partner banks. The company provides access to corporate and government debt instruments through Stable Bonds, along with a variety of fixed-income products besides regular bank fixed deposits.

In financial terms, the company hasn’t yet released its formal financial statement results for FY26. According to the available regulatory metrics, Stable Money completed an operating income of ₹4.3 crore and posted total gross income of ₹104 crore in FY25. Similarly, the startup’s operational expenses rose considerably during the corresponding period of FY25, and its net losses expanded 3.5X to ₹44.8 crore.

Conclusion

The Series C funding round marks a significant milestone for Stable Money, as it strengthens it with an additional $14.3 million in capital from existing institutional investors. The investment is led by The Fundamentum Partnership, with Peak XV Partners, RTP Global and Z47 as key current shareholders.

The co-founders, Saurabh Jain and Harish Reddy, still hold the helm as the company’s valuation has increased by 56% to reach ₹2,507 crore (about $264 million), despite growing fiscal losses and rising gross revenues in the competitive fixed-income digital space.