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Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation

EntrackrEntrackr · 3d ago
Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation
Medial

Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation Wealthtech startup Stable Money has raised $25 million at a valuation of $175 million in a pre-Series C funding round led by Peak XV Partners, with participation from Z47 (formerly Matrix Partners), RTP Global, and Fundamentum Partnership. The Bengaluru-based startup had previously mopped up $40 million from Fundamentum Partnership Fund, Matrix Partners, RTP Global, Lightspeed India, and others. The proceeds will be used to strengthen its core platform, expand access to complementary savings products, and scale its team across key functions. Stable Money, co-founded in 2022 by Saurabh Jain and Harish Reddy, is a fixed income investment platform that enables individuals to earn stable and secure returns through fixed deposits, bonds via Stable Bonds, and other low-risk instruments. It provides a digital platform where users can compare, invest in, and manage fixed income products. The company plans to deepen direct partnerships with banks and NBFCs, both established and emerging, to widen customer choice, enable smarter rate discovery, and drive innovation. It is also strengthening its on-ground presence in key cities across India to build deeper, face-to-face relationships with customers. Stable Money claims that over 40 lakh users have chosen its platform to invest more than Rs 5,000 crore across fixed deposits, Stable Bonds, and other secure instruments. For the fiscal year ending March 2025, Stable Money reported operating revenue of Rs 104 crore, compared to just Rs 1.3 crore in FY24, while its losses increased to Rs 44.8 crore from Rs 12.8 crore during the same period. As per data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025.

Exclusive: Jupiter’s NBFC biz raises funds from Peak XV, Matrix, others

EntrackrEntrackr · 1y ago
Exclusive: Jupiter’s NBFC biz raises funds from Peak XV, Matrix, others
Medial

Neobanking platform Jupiter has raised strategic funding from its existing investor for its non-banking financial (NBFC) biz. This is the maiden equity round for Amica Finance which is a separate entity. The board at Amica Finance has passed a special resolution to issue 97,89,529 Series A compulsory convertible preferred shares (CCPS) at an issue price of Rs 20.43 per share to raise Rs 20 crore or $2.4 million, as per the company’s regulatory filings with the Registrar of Companies. Peak XV Partners led the round with an infusion of Rs 5.25 crore followed by Matrix Partners and QED Fund with Rs 4.32 crore and Rs 3.58 crore, respectively. BEE Accelerate Fund (BEENEXT), Global Founders Capital, Tiger Global, Greyhound Capital Partners, Mirae Asset Venture Investments and Bairavan Amrish Rau poured in the remaining sum. The Jitendra Gupta-led company obtained an NBFC license from RBI in April last year which lets it lend on its own book. As per a media report, it will also hire a chief executive officer (CEO) to run the lending biz. As per the startup intelligence platform TheKredible, the company has raised fresh funds at a post money valuation of around Rs 100 crore ($12 million). Following the investment round, Jupiter’s founder and CEO Gupta diluted his stake to 76.15% while Peak XV Partners became the largest external shareholder with 6.24% stake. For the firm’s complete shareholding pattern, visit TheKredible. Currently, the average loan tenure on Jupiter’s platform is less than six months with a ticket size of Rs 30,000 but it’s reportedly eyeing to disburse up to Rs 1 lakh to borrowers with maximum tenure of two years. The development comes soon after Jupiter received prepaid payment instruments (wallet) license which enables users to perform UPI payments through the firm’s mobile application. Jupiter was last valued at around $710 million in its Series C round in December 2021. It has raised over $160 million to date from the likes of QED Investors, Peak XV, Tiger Global and Matrix Partners. Jupiter registered more than 2.5x growth in its operating revenue to Rs 48.86 crore in FY23. However, its losses grew at a similar pace and stood at Rs 327 crore in FY23 from Rs 163.94 crore in FY22.

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