Stable Money, a Wealthtech startup has secured over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner.

The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially at the time of funding winter.

The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, as per the report.

RTP Capital led the round with Rs 54.26 crore ($6.5 million) while Lightspeed India and Matrix Partners India pumped in Rs 34.64 crore ($4.15 million) each in this funding round.

In August 2023, Stable Money scooped up $5 million in its first equity fundraise backed by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors also participated in the round.

As per startup, Stable Money will be valued at around $55 million post money. This is more than three-fold jump in valuation from $16.5 million in the last round.

Stable Money | Wealthtech startup

Founded by Saurabh Jain and Harish Reddy in late 2022, Stable Money is building a fixed-return investment platform to provide financial consultation services to investors. The platform will also publish financial literacy content on its online platform to create awareness among lots of investors.

The startups have managed to score decent funding in the ongoing calendar year. Recently Deserv raked in $32 million in its Series B round led by Premji Invest.

In the month of May, wealth management platform Wealthy raised $5.4 million in a new round led by Alpha Wave Incubation Fund.

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