India’s wealthtech startup Stable Money has reported a sharp rise in its revenue for the financial year ending March 2025 (FY25), even as its losses widened considerably amid aggressive expansion and higher operating costs. The Bengaluru-based fintech platform continues to focus on scaling its user base and strengthening its presence in the fixed-income investment segment.
According to Entrackr, Stable Money recorded gross revenue of Rs 104.4 crore in FY25, compared to just Rs 1.3 crore in FY24. However, the company’s operating revenue stood at Rs 4.3 crore, indicating that a major portion of the reported topline came from high-volume financial transactions, including bond trading activities.
Strong Topline Growth Backed by Business Expansion
The significant jump in revenue reflects Stable Money’s rapid scale-up strategy over the past year. The platform has been actively facilitating investments in fixed-return financial products such as fixed deposits (FDs), bonds, recurring deposits, and other low-risk instruments. As investor appetite for stable returns grows in a volatile market environment, the company has positioned itself as a key player in the digital fixed-income space.
In addition to operating revenue, Stable Money also generated around Rs 7.63 crore in non-operating income, including interest income and other financial gains. This pushed the company’s total income close to Rs 112 crore for FY25.
Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money has witnessed strong user traction. The startup claims to have onboarded more than 40 lakh users, who have collectively invested thousands of crores through the platform. Its growth strategy focuses on simplifying fixed-income investments for retail investors across India.
Expenses Surge, Losses Widen
While the revenue growth is impressive, the company’s expenses increased sharply during the same period. Bond purchase and trading costs formed the largest chunk of expenditure, accounting for nearly Rs 100 crore. This highlights the scale at which the company is operating in fixed-income distribution and trading.
Marketing and promotional expenses were another major cost driver. The startup spent approximately Rs 25.33 crore on advertising and brand-building initiatives, underscoring its aggressive user acquisition strategy in India’s highly competitive fintech ecosystem.
Employee benefit expenses also saw a substantial rise, growing 2.5 times year-on-year to Rs 21.8 crore in FY25. The increase reflects hiring expansion, ESOP-related costs, and investments in strengthening internal operations and technology teams.
Including software development, compliance, recruitment, legal, travel, and other administrative overheads, the company’s total expenses rose to around Rs 160 crore for the fiscal year.
As a result, Stable Money reported a net loss of Rs 44.8 crore in FY25, compared to Rs 12.8 crore in the previous year. The widening losses suggest that the startup is prioritising growth and scale over immediate profitability — a strategy commonly seen among emerging fintech players in India.
Focus on Long-Term Growth
Despite widening losses, Stable Money continues to attract investor confidence. The company has raised significant funding in recent rounds, allowing it to invest in product development, technology infrastructure, and wider geographic reach.
Industry observers note that India’s wealthtech and fixed-income distribution market remains under-penetrated, offering ample headroom for growth. With traditional bank FDs and bonds still forming a large portion of Indian households’ investment portfolios, digital platforms like Stable Money are betting on convenience, transparency, and better comparison tools to capture market share.
However, the path to profitability will depend on improving operating revenue contribution, optimising customer acquisition costs, and maintaining asset quality and compliance standards in a tightly regulated environment.
Stable Money’s FY25 performance reflects a startup in expansion mode — building scale, enhancing visibility, and strengthening its product stack. The coming years will be crucial as the company works toward balancing rapid growth with financial sustainability in India’s evolving fintech ecosystem.