Stable Money Raises INR 123.5 Cr in Series A Funding Round

• 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