I'm Saurabh Jain, Co-Founder & CEO at Stable Money. Ask me anything!
Hi Grapevine, I'm [Saurabh](https://www.linkedin.com/in/saurabhjain1099/), currently building [Stable Money](https://stablemoney.in/), India’s largest platform for fixed return investments. I'd love to chat with you folks about my journey in building Stable Money, my thoughts on fintech and financial services, organization building, amongst other things. Ask me anything, I'll be back at 7 PM and begin answering! :)
Hi Saurabh,
Thanks for doing this. As somebody in their 20s who invests in mutual funds and stocks primarily, what’s a reason for me to move to FDs? And if I do, why Stable Money as the medium?
Thanks in advance :)
@AlphaGrindset Ah, 20! I feel so old, man. Before discussing anything about FDs, I just want to say - don't play it safe, go out and build something. This is a great age to start something. I wish someone had told me this.
On FDs - You need to have a balanced portfolio. Don't put all the eggs in one basket. Your emergency fund, which is liquid, has to be in FDs. Why Stable money? Because like your bio, we are also a series A company, haha. Jokes apart, we will offer you the highest FD rates and the best CX. Trust us once :)(
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when we will bring the More stable banks other than small banks? and what is the plan to bring the bonds andother investment options
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Hey Saurabh, great to have you here on GV!
How does Stable Money ensure that it remains customer-focused rather than purely sales-driven, especially in a competitive fintech landscape?
@EmbarrassedDiversity Diversity We talk to our customers every day! I mean it. We are the only ones who offer full-time call support to address any and all customer inquiries, including those from new customers. Trust me, that's not easy to do. Even at our small scale, we handle over 700 calls every day. And it's not just the support team – everyone on the team is on the phone with someone at some point, including me. I'm in direct contact with 10% of our users. This keeps us grounded and in touch with reality. By listening to our customers, we have been able to create some great features. That's hard to keep up going forward but we will stop that last.
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jinyang
Stealth
15 days ago
@SaurabhJain love this!!
Why should one invest in FDs/Bonds while investing in NIFTY50 gives me better returns while being practically risk free?
@FelineHunting Hunting Great choice, man! I hope you are investing in Nifty 50, as it is the cheapest option. However, investing there does not guarantee that you will always come out positive when you need money urgently. So, where do you keep money for emergencies? Nifty has yielded 12% over a long period, but there have been years when the returns were much lower.
GossipEnthusiast
Stealth
15 days ago
How is nifty 50 risk free? The index gave around 4% returns in 2022.
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Seeing company's growth from last year. How can someone join the stable money team?
@AnguishedRack, Let's talk, man! No positions are open right now, but we are always (always) looking for hungry folks who are here to prove something to themselves (or others). DM me on Linkedin??
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Hi Saurabh, been following your journey for long enough :)
What motivated your shift from a tech-driven role at Swiggy to leading a financial entity like Navi Mutual Fund, and what challenges did you face during this transition?
@DullServitude Hey, I need some help with Gupshup. Hope you can help. haha :)
I never told this to anyone, but just for you - I would have moved for any role, any domain just to work with Sachin Bansal. It just happened to be that he was working on Navi. No thoughts, deep thinking or strategy before moving. :)
I found it easy because I had no baggage of what works, regulations, etc. So was freely working on ideas - Some failed but some worked amazingly well. E.g. starting low cost index fund as a strategy.
Hi Saurabh, I have invested on Stable money and a member of your top 1 %. I joined it as a part of my product research and eventually hooked due to easy U/UXI. My question is “ I can see the name of banks I have never heard before on your app, I am sure they are insured by govt upto 5 lakhs - how will stable money help its users who are from tier 3/4 in case the bank stumbles. I am sure it will take time, are you planning to do something different here? Coz when I was researching in Tier 1, I found people want to trust your brand and not the bank and eventually this will drill down to tier 3/4 as well.
Also, from the mar
Also the features you offer in top 1% club is just for the sake of it, again good UI/UX though. I think a lot better can be done there without investing much. Please ask your product team to think - amazing opportunities there and pls don’t give free masterclass access, market is flooded with such marketing centric masterclasses, the fad of online classes is over.
Hey Saurabh, what does my net worth/balance need to be for me to use Stable Money? Is there a minimum?
@SentinelPrime You just need to show some love to us and I am happy to fund your first FD :) Honestly!
But technical answer is 1000! You can book your 1000 FD on our platform (Ujjivan Bank) and get started.
Hi Saurabh, welcome to GV :)
Given the perception of FDs as low-return investments, how do you convince investors of their value, especially in a high-interest environment?
I literally beg, haha! Honest answer, there are 25cr FDs. It needs no convincing. Just that your and my primary circle doesn’t do it more often but India runs on FD. And I run behind them :-)
DaringTrain
Stealth
15 days ago
Hey Saurabh,
Welcome to GV :)
- Why do you think India's debt industry has not grown vs Equity MFs touching all time high? Like debt mutual funds, FDs? People are literally taking money out of FDs into stocks and MFs
- How do think you'll defend yourself against a smallcase coming up? Because they can offer people a basket of FDs packaged as one product?
- As a retail investor in their 20s, do you think FDs make any sense at all? Would it be not better to put it in Government securities or listed debt?
- You made tonnes of money in your previous life. Was it this cushion that helped you plunge into entrepreneurship?
DaringTrain
Stealth
15 days ago
*Sorry it was Harish who made tonnes of money. I am sure you also did at Swiggy and Navi.
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MonumentalMansion
Stealth
15 days ago
Don't have confidence to move money through mobile. Access to operate from website will be helpful.
@MonumentalMansion Great idea! I will pass this to the product team and get started. I can't commit, but hopefully, you will see this by mid-Oct. my product team will kill me for this
In the journey of building Stable Money and your previous roles at Navi and Swiggy, how have you managed to maintain a balance between your professional responsibilities and personal life? What strategies do you use to ensure both areas thrive?
This is a big thing that bugs me whenever I am thinking of taking the leap :(
@SomeBackdrop I have seen my dad working (very) hard with min luck - There was no balance! But that was needed at that time and I am trained that way. For me, my work defines who I am. I am socially awkward (hence doing AMA here). Hence, for me, work and life are the same. Fortunately, my wife has known me since I was 15 years old, so it's all okay!
Sorry, I am sure you were expecting something else here.
Hey Saurabh, thanks for doing this.
Few questions:
- What inspired you to start Stable Money, and what problem are you aiming to solve in the fixed-return investment space?
- What are the most important metrics or indicators you focus on to gauge the success of Stable Money?
- How do you differentiate Stable Money from other platforms in the fintech space? I mean the ROI is almost the same that we can get with NBFC or Small Fin Banks.
- What role does customer trust play, and how do you ensure it at Stable Money?
Many IITB alumns choose to pursue an MBA at the M7s. What factors influenced your decision to forgo this path, and in your opinion, what are the pros and cons of not having an MBA in the entrepreneurial and fintech landscape?
Trying to make my decision, hence the question
How did your experiences at large organizations like Swiggy and Navi influence the culture you are building at Stable Money? How was the journey of working with stalwarts like Sriharsha and Sachin? :)
Hey Saurabh, how do you see the role of decentralized finance (DeFi) impacting traditional banking and investment strategies?
Hi, curious - what is your TG and which GTM so far has worked the best for your brand?
@Nole Hey!
A large population is more focused on earning more money by working hard than growing their money through investments. We are building from them. People who spend less time on investments and hence wants safety and simplicity.
Showing how much customers love us has helped us build a trusted brand. Our referral numbers are off the roof. Also, some trust worthy influencers have helped us reach to masses.
In your podcasts, you often discuss the cautious nature of Indian investors. How has this understanding influenced your approach at Stable Money?
@ExhaustedDrug Oh, you will be shocked!
During my time at Navi Mutual Fund, I noticed that many users were applying for NFOs (New Fund Offers) and redeeming on the first day of launching. I was surprised by this behavior. When I spoke to them, I realized they were confusing this with IPO (Initial Public Offering) day one gains. This shows that mutual funds and stocks can be complex for investors to understand.
Coming from a tier 2 background myself, I have observed that a large population is more focused on earning more money rather than growing their money through investments. This may seem simple, but it runs deep. We aim to create solutions for such investors.
Hi! Thanks for doing this!
What’s the hardest part about building a fintech in India? Is it meeting lots of lawyers? Or convincing users to download the app? Or you explaining vc the business model?
I believe the hardest part is staying true to your vision! The push for revenues pushes every fintech to start doing MIS selling in some shape and form.
LooseGoose
Stealth
15 days ago
Hey Saurabh, how are you going to diversify your product strategy given that banks are also developing their own banking services and offering/building much of what you are building already?
Do you see any key features of yours in your roadmap that would be difficult for banks to do?
Thinking about customer before revenues! It’s hard for banks to beat this 🙏🙏
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