Wealthtech startup Stable Money raises $20-M led by Fundamentum

Bengaluru-based wealthtech startup Stable Money has raised INR 173 crore (USD 20 million) led by Fundamentum (via Fundamentum Partnership Fund contributing INR 86.5 crore) with participation from existing investors Z47 (INR 45.42 crore), RTP Global (INR 33.78 crore), Lightspeed India (INR 4.32 crore) and Naman finance (INR 3 crore). The company will issue 10 equity shares and 51,914 Series B preference shares at INR 33,345 per share, at a post money valuation of USD 130 million. The fresh funds will be used by the company for capital expenditure, marketing and general corporate purposes.Founded in 2022, Stable Money aims to help individuals grow their wealth over the long term by offering investment options that prioritise returns with safety and stability.