Other Private Equity/Strategic Investments
Fintech co. MobiKwik to acquire 3.39% stake in fixed deposits aggregator Blostem Fintech
Entrackr Business Standard Blostem
Gurugram-based One MobiKwik Systems, the parent company of fintech firm MobiKwik, is to acquire 3.39% of the share capital of Delhi-based Blostem Fintech for INR 1.49 crore.The company had committed to invest INR 3 crore in Blostem’s equity shares in two tranches. The first tranche of INR 1.5 crore was invested in March 2024 for a 3.40% stake in Blostem’s fully diluted paid-up capital. The current investment is the second tranche.Founded in 2021 by Ravi Jain and Sandeep Garg, Blostem is a B2B (business-to-business) banking infrastructure platform specializing in fixed deposit (FD) aggregation as its core offering. The company has built partnerships with banks and non-banking financial companies (NBFCs), to integrate their financial products through API solutions.
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