VC Fund Investments
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.
Between Dec-22 and Jul-24, Stable Money had attracted about USD 19 M from Lightspeed Ventures, RTP Global, Z47For FY24, Stable Money had reported about INR 1 Cr in Operating Income and about INR 13 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
