Fintech startup Stable Money saw its revenue grow over 8x, reaching Rs 2.76 crore in FY24 from Rs 32 lakh in FY23. Revenue from operations accounted for over 12% of the total revenue.
Founded in 2022, Stable Money is a fixed-return investment platform focused on reinventing India’s favorite asset class—fixed deposits. By prioritizing consistent, long-term returns over short-term gains, Stable Money empowers individuals to grow wealth securely through the power of compounding. With expert guidance, the platform simplifies investing, helping users make informed financial decisions for enduring success.
Stable Money has raised a total of Rs 164.31 crore in funding over two rounds, with the latest funding secured in July 2024. The co-founders, Saurabh Jain and Harish Reddy, each hold a 21.80% stake in the company. Additionally, the company has an ESOP pool accounting for 7.20% of its shares.
The company’s expenses increased 6.4x to Rs 15.14 crore in FY24 from Rs 2.36 crore in FY23. The major expense is employee benefits, contributing over 55% of the total expenses in FY24. Other expenses include advertising costs (22.4%), legal and professional fees (3.8%), and depreciation (1.4%).
Its losses surged 5.8x in FY24, reaching Rs 12.29 crore compared to Rs 2.11 crore in FY23. The EBITDA margin improved to -439.63% in FY24 from -629.60% in FY23, while the ROCE decreased to -42.51% in FY24 from -5.23% in FY23.