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. Here, we are talking about Wealthtech startup Stable Money secured $15 million in its new funding round led by RTP Capital and Others.
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. This startup, founded by Harish Reddy and Saurabh Jain, provides financial consultation and financial management advice to investors. The startup offers a financial services platform that publishes financial literacy content to spread awareness among investors. The application also uses cutting-edge technology to provide its customers with financial advisory, transaction capabilities, and access to wealth management advisors. This investment shows investors’ trust 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 credible, 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 users select the right investment choice.
The startup claims to process investment requests in 24 hours. The company will use this fund to offer a seamless user experience, strengthen its platform, secure it, 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 provides 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.
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