Wealth tech firm Stable Money has secured a Series B funding tranche of $ 20 million (INR 173 crore). With this round, led by Nandan Nilekani funding vehicle called Fundamentum Partnership accompanied by Aditya Birla Ventures, its Ability to deepen product, improve its offline distribution system, and popularize it among fixed income partners will increase significantly That way, it will further provide wealth management to a broader segment of Indian consumers in an accessible and trustable fashion.
In less than a decade since launch, Stable Money has established INR 3,000 crore + AUM with 20 lacs + customers.
Currently, it is testing demand for debt and gold MF; its new secured (FD-backed) credit card found 3,200 customers in the first month, mostly in II cities. With this project, they focus on the issue of untapped capital and access barriers for wealth managers in these zones.
Other upcoming products include loan against FD and research-driven DIY type investment baskets comprising of FD, bonds and mutual funds, the lender said. Instead of the traditional advisory basket, these baskets will allow users to create a self-managed goods template. With its 10 partner banks and NBFCs live and 8 in the pipeline, Stable Money is poised to provide a comprehensive range of secure, fixed-income solutions for the underbanked.
Stable Money enables millions across India to access safe and predictable channels of wealth generation.
Financial Inclusion Through Wealthtech
Mayank Kachhwaha, Partner at Fundamentum, said – Saurabh and Harish are excellently set up to scale Stable Money into a really full-stack safety net for how India saves. Through its focus on transparency, consistency, and inclusiveness, the firm is bringing mass market fixed-income wealthtech to a new level.
