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Stable Money Raises INR 123.5 Cr in Series A Funding Round

CosmicTaco · 2024-07-22T13:52:02.732340+05:30

- Bengaluru-based fintech startup Stable Money has raised INR 123.5 Cr (about $14.7 Mn) in its Series A funding round led by RTP Capital. - The round also saw participation from existing investors Matrix Partner and Lightspeed Ventures. - The board at Stable Money passed a special resolution to issue 77,135 Series A Compulsory Convertible Preference Shares (CCPS) at an issue price of INR 16,019 each to raise INR 123.56 Cr, as per regulatory filings. - The financing round appears to be ongoing and Stable Money is likely to raise more capital in Series A funding. - Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed-return asset investment opportunities for retail investors, such as access to fixed deposits, debt mutual funds, and bonds. Source: Inc42

Bengaluru-based fintech startup Stable Money has raised INR 123.5 Cr (about $14.7 Mn) in its Series A funding round led by RTP Capital.
The round also saw participation from existing investors Matrix Partner and Lightspeed Ventures.
The board at Stable Money passed a special resolution to issue 77,135 Series A Compulsory Convertible Preference Shares (CCPS) at an issue price of INR 16,019 each to raise INR 123.56 Cr, as per regulatory filings.
The financing round appears to be ongoing and Stable Money is likely to raise more capital in Series A funding.
Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed-return asset investment opportunities for retail investors, such as access to fixed deposits, debt mutual funds, and bonds.

Source: Inc42

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