Wealthtech Startup Stable Money Secures $5 Mn Funding From Matrix Partners, Lightspeed
Summary
The round also saw participation from Titan Capital, Mar Shot Ventures, as well as angel investors including Kunal Bahl, Rohit Bansal, Harsha Majety The startup will use the funds for senior leadership hiring, striking financial partnerships, and building technology Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed return asset investment opportunities for retail investorsWealthtech startup Stable Money has raised $5 Mn in its seed funding round led by Matrix Partners India and Lightspeed. The funding round also saw participation from Titan Capital, Mar Shot Ventures, as well as angel investors, including Kunal Bahl, Rohit Bansal, Harsha Majety,Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed-return asset investment opportunities for retail investors, such as access to fixed deposits, debt mutual funds and bonds, along with other low-risk asset classes delivering inflation-beating results to enhance their financial prospects.The startup wants to address the needs of market size of over 300 Mn Indians who want to invest in attractive low-risk returns. With investments starting as low as INR 1000 without the need of new bank accounts, Stable Money wants to make it inclusive and convenient for investors of all backgrounds to participate.The startup will use the funds for senior leadership hiring, striking financial partnerships, and building technology. Moreover, it will also focus on developing a user-friendly mobile app to make it easier for users to explore the opportunities.It is also looking to sign new partnerships to establish collaborations with over ten banks by the end of 2023, the startup said in a statement. Our journey begins with fixed deposits, where we bring the advantage of the current five-year high-interest rates, they added.Stable Money is looking at an investment segment which remains one of the most preferred choices among Indian investors.