In a significant move for India’s wealthtech sector, Bengaluru-based Stable Money officially announced on February 18, 2026, that it has raised $25 million in a pre-Series C funding round. The investment was led by Peak XV Partners, with strong participation from existing backers including Z47 (formerly Matrix Partners India), RTP Global, and the Fundamentum Partnership.
The round values the three-year-old startup at $175 million, a significant step up from its $125 million valuation in mid-2025.
Funding Breakdown & Valuation
Stable Money has now raised a total of $65 million since its inception in 2022.
| Funding Tier | Amount | Lead Investor | Valuation |
| Pre-Series C (Feb 2026) | $25 Million | Peak XV Partners | $175 Million |
| Series B (June 2025) | $20 Million | Fundamentum Partnership | $125 Million |
| Total Raised to Date | $65 Million | — | — |
Use of Capital: Tier 2 Expansion and Real Estate
The fresh capital is earmarked for an aggressive expansion beyond metropolitan areas, targeting the “next billion” savers in India.
- Tier 2 & 3 Expansion: Co-founder Saurabh Jain indicated that a significant portion of the funds will go toward marketing and establishing an offline network in seven new cities, as users in smaller towns often prefer face-to-face trust for financial products.
- Product Diversification: While remaining “strictly focused on fixed income,” the company is evaluating a venture into Real Estate Investment Trusts (REITs) and other fixed-income aligned offerings.
- Scaling Inflows: The platform aims to scale its monthly customer acquisition from 30,000 to 100,000 by the end of 2026, with a target of reaching ₹15,000 crore in total investment volume by the year-end.
Operational Performance (FY25)
The funding comes on the heels of a high-growth fiscal year, characterized by massive revenue scaling alongside widened losses.
- Operating Revenue: Jumped to ₹104 crore in FY25, up from just ₹1.3 crore in FY24.
- Losses: Widened to ₹44.8 crore (from ₹12.8 crore) as the company prioritized rapid customer acquisition and platform engineering.
- User Base: Over 40 lakh (4 million) users have now chosen the platform, collectively investing more than ₹5,000 crore across its products.
Market Leadership on ONDC
Stable Money has also emerged as a dominant force on the Open Network for Digital Commerce (ONDC). As of February 2026, the platform drives over 95% of all mutual fund transactions on the network, reflecting its successful early integration into India’s open digital infrastructure.
“Stable Money was built on a simple conviction that Indian households deserve fixed-income products that are transparent and worthy of their trust. Seeing millions of families choose to manage their savings digitally is what encourages us most.” — Saurabh Jain, Co-founder & CEO, Stable Money.
