Mumbai, Feb. 21 -- Blostem is a B2B banking infrastructure platform, founded in 2021, specializing in Fixed Deposit (FD) aggregation as its core offering. The company has built strategic partnerships with multiple banks and NBFCs, seamlessly integrating their financial products through robust API solutions. Its revenue was Rs 30.76 lakh for year ended 31st March 2024.

The said transaction is expected to be completed by 28 February 2025. Upon completion, MobiKwik's total equity stake in Blostem is expected to be 6.79% on a fully diluted basis.

On 13 March 2024, the company entered into a share subscription and shareholders' agreement with Blostem. Under this agreement, the firm committed to invest Rs 3,00,11,890 in two tranches. The firs...