B2B Banking Infrastructure Platform Blostem Secures Funding

B2B banking infrastructure platform Blostem has successfully completed its Pre-Series A funding round, led by Rainmatter, the investment arm supported by Zerodha, for an undisclosed sum. This funding has granted Rainmatter a 9% equity stake in the startup.

About Blostem

Founded by prominent figures Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh, Blostem provides a plug-and-play solution that allows brokers, fintech applications, payment players, and wealth-tech firms to deliver digital retail banking products without the need for extensive integrations with individual banks. The technology stack supports features such as fixed deposits, FD-backed credit cards, and Credit-on-UPI. Partners need to integrate only once to access a broad range of banks and NBFCs through a single API.

Established Network

The firm has developed a network comprising 10 banks and NBFCs for its fixed deposit solutions, including Suryoday Small Finance Bank, Unity SFB, Shivalik SFB, Utkarsh SFB, Bajaj Finance, Shriram Finance, and Mahindra Finance. Additional integrations are currently in progress.

Key Partnerships

Blostem collaborates with major fintech platforms such as Mobikwik, Jupiter Money, Upstox, Aditya Birla Capital Digital, IRIS by KFin Technologies, Centricity Wealth, and GoldenPi. The company has announced that its fixed deposit marketplace will soon be available on Zerodha and other significant platforms.

Future Aspirations

Blostem aims to achieve 40% of India’s digital fixed deposit volumes in the coming years through its established partner ecosystem. The funds raised will be utilised to enhance its distribution network, strengthen relationships with banks, and develop new products, including FD-backed credit cards and Credit-on-UPI. In addition, the company plans to recruit senior talent in technology, compliance, and partnerships.