A Wealthtech startup "Stable Money" raises $5 Million in funds.

Stable Money

Stable Money is a wealthtech startup that offers fixed-return investment opportunities for retail investors. The company was founded in 2022 by Saurabh Jain and Harish Reddy.

On August 2, 2023, Stable Money announced that it had raised $5 million in a seed funding round led by Matrix Partners India and Lightspeed. The round also saw participation from Titan Capital, Mar Shot Ventures, and angel investors, including Kunal Bahl, Rohit Bansal, Harsha Majety, and Sandeep Tyagi.

The fresh capital will be used by Stable Money to develop its technology platform, expand its team, and grow its user base. The company also plans to use the funds to launch new products and services.

Stable Money is a well-funded and fast-growing startup that is making a significant impact on the wealthtech space. The company is well-positioned to continue its growth and success in the years to come.

Here are some additional details about Stable Money's recent fundraise:

* The funding round was oversubscribed, with interest from a number of other VC firms.
* Stable Money is planning to use the funds to launch new products and services, including a fixed-deposit marketplace and a debt mutual fund platform.
* The company is also planning to expand its team to 50 people by the end of 2023.
* Stable Money is targeting a user base of 1 million by 2025.

Tags : #startups #investment #funding #fundingupdates #fintech #innovation #fwealthtech