Tuesday, June 18, 2024
Outlook India
Outlook Business

Digital Fixed-Return Investment Platform, Stable Money, Unveiled

The digital fixed-return investment platform will soon embark on an India tour, spanning over 15 cities

Digital Fixed-Return Investment Platform, Stable Money, Unveiled
Saurabh Jain and Harish Reddy, founders of Stable Money

Outlook Start-Up Desk

POSTED ON September 13, 2023 9:35 PM

Stable Money, a digital fixed-return investment platform, has announced its launch and availability for downloads. This online marketplace focuses on providing reliable fixed-income investment opportunities to individuals. 

The fintech platform, run by former Navi Mutual Fund chief executive Saurabh Jain, offers access to fixed deposits (FDs), debt mutual funds, bonds, and other low-risk asset classes. It compares FD interest rates from over 200 banks, enabling customers to manage and track their FDs using digital tools. 

In August, the wealthtech platform raised $5 million in its seed funding round led by Matrix Partners India and Lightspeed. It has onboarded several partner banks and NBFCs, including Utkarsh Small Finance Bank, Shivalik Small Finance Bank, and Shriram Finance Limited, to offer their fixed-income products.

Stable Money has introduced a set of new features, including ‘Break FD’, which offers investors the flexibility to access funds before maturity without sacrificing returns. FD Laddering helps investors maintain a balanced portfolio by considering both liquidity and returns.

Lastly, the Switch FD feature enables investors to make swift adjustments in response to market changes.

The launch was attended by Kalpen Parekh, MD and CEO at DSP Mutual Fund, Sanjay Sharda, head for consumer banking at Utkarsh Small Finance Bank, Keshav Mishra, executive vice president for head digital banking at Shivalik Small Finance Bank, Vedansh Chandak, president for corporate finance and treasury at Shriram Finance Limited, and Kirtan Shah, co-founder and CEO of Financial Planning Academy, among others.

Saurabh Jain and Harish Reddy, founders of Stable Money, expressed their excitement, stating that their mission is clear to democratise fixed-return investments and provide a transparent, user-friendly avenue for millions of Indians. “Today marks the beginning, but our vision stretches far beyond. We’re here to provide a financial safety net that assures stability and resilience, especially in these unpredictable times,” they stated.

The launch event witnessed the presence of Stable Money’s partner banks and influential angel investors. Since its soft launch and subsequent beta testing, the platform has gained registrations from over 50,000 users.

Stable Money will soon embark on an India tour, spanning over 15 cities, aimed at raising awareness about the benefits of fixed-income instruments through workshops and conferences. 

  • Related Articles

    The 30 shortlisted startups will each receive Netcore credits worth up to $ 30,000

    Netcore Cloud Launches $1 Million Accelerator Program

    The company plans to expand to Singapore, UAE, UK, Australia, Philippines, Indonesia, SEA, ME, Australia, and US

    Credible Announces Strategic Global Expansion

    The event focused on the “Transition from ICE to EV ~$1 Trillion Investment Opportunity”

    IVCA Hosted The Latest Edition Of “IVCA Green Future Series”