MUMBAI, Feb. 18 -- Stable Money, an Indian platform allowing users to book fixed-income assets, has raised $25 million in a pre-Series C funding round, valuing the Bengaluru-based fintech startup at $175 million, at a time when Indian fintechs are under pressure to build more sustainable business models

Peak XV Partners led the all-equity round with a $20 million investment, Saurabh Jain, co-founder of Stable Money, told Mint. Existing backers Z47, RTP Global, and the Fundamentum Partnership, co-founded by Infosys Ltd chairman Nandan Nilekani, also participated. The latest infusion brings the company's total capital raised across four rounds to $65 million.

The capital will fund expansion into India's tier 2 and tier 3 cities, where the...