Fixed re-imagined

THE STARTUP HAS TURNED FIXED DEPOSITS INTO FINTECH PRODUCTS BY GOING WHERE HOUSEHOLD SAVINGS ALREADY WERE

- AYANTI BERA

BY THE TIME Saurabh Jain began thinking seriously about his next startup, the fintech ecosystem had already been crowded by products built around equities and mutual funds. Yet a far larger pool of household savings continued to sit in a familiar, decades-old instrument: fixed deposits.

For Jain, that gap, between where innovation was flowing and where money actually rested, became the core idea behind Stable Money.

The insight was shaped by a long apprenticeship across consumer internet and financial services. Jain grew up in Aurangabad and entered IIT Bombay in 2006 to study metallurgy. The early years were difficult. “The first year was a struggle,” he says, but the exposure and networks the campus offered proved formative. After graduating, his first job in 2010 at a trading firm promised %9 lakh a year and delivered %25,000 a month. He quit within five months and returned home, before landing at Fractal Analytics later that year, where he experienced a more structured workplace.