PE-VC Fund Investments
Fintech startup Blostem raises seed funding led by AC Ventures
Delhi-based Blostem has raised seed funding from AC Ventures. This latest funding round adds to the existing backing from Mobikwik and Kapil Bharti (co-founder, Delhivery), bringing the total funding to INR 4 crore and valuing the startup at about INR 45 crore.The fresh funds will be used to strengthen the firm’s FD offering, scaling up FD transaction volumes across partner platforms, and expanding into other banking, investment and savings products.Co-founded in September 2021 by Ravi Jain, Sandeep Garg, Uday Sharma and Pankaj Pratap Singh, Blostem builds the infrastructure & experience layer for fixed deposit distribution in India.Currently, it claims to partner with around 10 banks & NBFCs (non-banking financial companies) for the Fixed deposit product.
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