Stable Money

Positions itself as delivering high FD interest rates (up to 8.40% advertised on its homepage) by aggregating offers across partner banks and NBFCs. NOTE: the previously-filed "Earn up to 1.5% higher returns" quote could not be found on stablemoney.in in any Wayback Machine snapshot checked (2023-2026) and has been replaced with a quote independently verified via archive.org.

Reassures conservative savers that deposits booked through the platform sit at RBI-regulated banks/NBFCs and carry DICGC deposit insurance.

Skews younger than the traditional FD-holder base.

Broad geographic reach beyond metro cities.

Users track and manage their FD, bond, and gold holdings themselves through an in-app dashboard rather than via a dedicated relationship manager.

Account opening includes a video know-your-customer (KYC) call with a bank representative in addition to self-service app tools; independent review coverage notes variable reliability in this process and in post-investment support responsiveness.

Existing customers with an active FD can invite friends via a referral link; both sides are rewarded once the referred user books and holds an FD for 90 days, driving peer-led growth and repeat engagement.

Primary distribution channel; listed on the App Store and Google Play.

Web platform for comparing and booking FDs alongside the app.

Core activity is digitally distributing fixed deposits, bonds (via its Stable Bonds arm), and other low-risk instruments.

Bonds are distributed through group entity Stable Broking Pvt Ltd, a SEBI-registered stockbroker in the debt segment and Online Bond Platform Provider, and a member of NSE and BSE — the regulatory license that lets the platform sell bonds directly.

Stable Money was founded in 2022 by Saurabh Jain and Harish Reddy.

The company has raised roughly $65 million across funding rounds, including a $25 million pre-Series C round led by Peak XV Partners at a $175 million valuation, following an earlier $40 million round from Fundamentum Partnership Fund, Matrix Partners, RTP Global, Lightspeed India and other backers.

Fresh capital is earmarked in part for strengthening the company's core technology platform that underpins its FD, bond, and gold distribution business.

Fixed deposits are sourced from a panel of partner banks and NBFCs listed on the platform. NOTE: the previously-filed detail named specific banks (SBI, HDFC, ICICI, Axis) as partners, but on independent re-check those names only appear in a generic "compare all banks' FD rates" footer link list on stablemoney.in (an SEO rate-comparison directory covering ~18 banks), not in any actual partner-bank list — that attribution went beyond what the source_quote supports, so the specific bank names have been removed pending verification of which banks are actual booking partners vs. rate-comparison-only listings.

Stable Money earns a commission from the partner bank or NBFC each time a user books an FD through the platform; the commission is paid by the issuing institution and does not reduce the depositor's contracted rate.

On bonds distributed through its Online Bond Platform Provider (OBPP) arm, Stable Money buys and resells at a price that embeds its margin rather than charging a separate itemized brokerage fee.

Stable Money distributes regular (not direct) mutual fund plans, earning ongoing trail commission that the AMC pays out of the fund's expense ratio.

The largest identifiable cost line is bond inventory: FY25 accounts show roughly ₹100 crore of bond purchase and trading costs, nearly matching the year's ~₹104 crore of gross revenue — consistent with a buy-and-resell (principal) bond model where thin margins sit inside the resale price.

Despite ~₹104 crore of FY25 operating revenue, Stable Money posted a net loss of roughly ₹44.8 crore for the year, indicating total costs (bond inventory, technology, personnel, and customer acquisition) exceeded revenue.

Fresh funding is being directed toward expanding the company's on-ground presence in key Indian cities for closer customer engagement, alongside scaling teams across key business functions — both ongoing cost centers as the company grows beyond its digital-only roots.