Wealthtech startup Stable Money is raising Rs 173 crore (around $20 million) in a funding round led by Fundamentum Partnership Fund, with participation from existing investors Z47 (formerly Matrix Partners), RTP Global, and Lightspeed India.

According to the company's filings with the Registrar of Companies, Stable Money's board has issued 10 equity and 51,914 Series B preference shares at an issue price of Rs 33,345 each to raise Rs 173 crore.

Nandan Nilekani's Fundamentum Partnership Fund will lead the round with an investment of Rs 86.5 crore ($10 million). Existing investors will also join in, including RTP Global with Rs 33.78 crore, Z47 with Rs 45.42 crore, Lightspeed India with Rs 4.32 crore, and Naman Finance with Rs 3 crore, reported Entrackr.

Post the round, the Fundamentum Partnership Fund's stake in the firm will be 7.94%, Z47 (18.97%), RTP Global (13.45%), Lightspeed India (15.20%), and Naman Finance (0.28%).

Founded in 2022 by Saurabh Jain and Harish Reddy, the Stable Money platform allows users can compare, invest, and manage fixed-income products, particularly bank fixed deposits (FDs). It last raised $15 million in Series A round in July 2024 led by RTP Global and Z47. Other investors included Lightspeed, Titan Capital among others. Stable Money raised its $5 million seed round $5 million in August 2023.

Moneycontrol first reported about this deal.