Legal · Financial Services

AMFI suspends Stable Finserv mutual fund activities

What they do

AMFI suspended Stable Finserv's mutual fund activities from May 21 to November 20, 2026

Stable Money paused new gold and silver mutual fund investments pending review

The company engages stakeholders to ensure regulatory compliance and transparency

The Association of Mutual Funds in India (AMFI) suspended Stable Finserv mutual fund activities from May 21 to November 20 2026.
Stable Money paused fresh gold and silver mutual fund investments including SIPs and lump-sum payments during this period.
The company engaged industry and regulatory stakeholders regarding the review and committed to meeting all regulatory obligations.
Stable Money continues to offer fixed deposits and corporate bonds alongside its mutual fund services.
The startup has raised approximately $65 million in total funding to date across multiple rounds.
A recent pre-Series C round of $25 million was led by Peak XV Partners in February 2026.
The company is currently in talks to raise an additional $15 million at a valuation of roughly $275 million.
Stable Money competes with major platforms like Groww Zerodha Coin and Upstox in the wealthtech space.

The suspension highlights increased regulatory scrutiny on digital wealth platforms distributing mutual funds in India.
Stable Money's pause on specific gold and silver funds indicates targeted compliance checks rather than a full shutdown.
The company's commitment to transparency suggests it aims to resolve issues quickly to resume normal operations.
Regulatory actions often signal broader industry shifts toward stricter oversight of fintech distribution channels.

Stable Money operates as a Bengaluru-based wealthtech startup founded in 2022 by ex-Navi executives.
The platform offers fixed deposits with high-yield rates up to 8.50% from various banks and NBFCs.
Fixed deposits are insured by the DICGC up to ₹5 lakh per depositor providing safety for users.
Users can invest in corporate bonds and mutual funds through the app's unified interface.
Total FD investments facilitated by the platform reached ₹94,36,96,84,012 as reported on its website.
New FD bookings occur every 60 seconds indicating high user engagement and transaction volume.
The platform serves over 60 lakh users across more than 3,500 cities in India.
Monthly FD volumes stand at approximately ₹300 crore while corporate bond volumes reach ₹400 crore.
Mutual fund volumes are estimated between ₹50-80 crore monthly according to recent reports.

Stable Money aims to resolve the AMFI suspension and resume full mutual fund distribution activities.
Stable Money intends to expand its user base beyond the current 60 lakh users across India.

Peak XV Partners (lead) — A prominent venture capital firm investing in Indian startups.
Lightspeed (participated) — A global venture capital firm focusing on technology companies.
Fundamentum (participated) — An investment firm supporting early-stage businesses.
Z47 (participated) — An investor in the Stable Money portfolio.
RTP Global (participated) — A venture capital firm focused on growth-stage technology companies.
Aditya Birla Ventures (participated) — The venture capital arm of the Aditya Birla Group.
Mars Shot Ventures (participated) — An investment vehicle backing innovative startups.

Product: A platform that lets users invest in fixed deposits, bonds, and other low-risk products.
Customers: Retail investors in India.
How it makes money: It earns commission or distribution income from fixed-income and mutual fund products.
What sets it apart: Focuses on fixed-return and other low-risk savings products.
Operations: Operates as a digital distribution and investment platform.