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Fintech Founder Builds Empire on Traditional FDs
16 Feb
Summary
- Startup Stable Money transformed fixed deposits into fintech products.
- Platform handles ₹430 crore monthly inflows, with a ₹4,000 crore cumulative book.
- Sixty percent of users are from tier 2 and tier 3 cities.
Stable Money, founded by Saurabh Jain, has successfully transformed fixed deposits into innovative fintech products, addressing a significant gap in the market.
Jain, with prior experience at Fractal Analytics, Swiggy, and Navi, pivoted his venture from corporate bonds to focus on fixed deposits after user conversations revealed strong trust and demand for this traditional instrument. The company launched in August 2023.
The platform now handles approximately ₹430 crore in monthly inflows, accumulating a book of around ₹4,000 crore and generating nearly $3 million in annual recurring revenue within two years.
Notably, 60% of Stable Money's customer base originates from tier 2 and tier 3 cities, indicating a successful reach into markets less catered to by traditional financial services.
Stable Money has also expanded its offerings beyond FDs to include corporate bonds, gold and silver funds, and FD-backed credit cards, emphasizing improved access and packaging for fixed-income products.
