One MobiKwik Systems Acquires 3.39% Stake In Blostem Fintech

Fintech firm MobiKwik’s parent company, One MobiKwik Systems, is acquiring a 3.39% stake in Blostem Fintech.

MobiKwik plans to invest Rs 1.49 crore for this stake as part of the second tranche of a share subscription and shareholders’ agreement signed on March 13, 2024.

Earlier, MobiKwik had agreed to invest Rs 3 crore in Blostem in two phases. The first tranche of Rs 1.5 crore was paid in March 2024 for a 3.40% stake.

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About Blostem 

Founded in 2021, Sandeep Garg, Pankaj Singh and Uday Sharma, Blostem is a B2B banking platform focused on Fixed Deposit (FD) aggregation. It partners with multiple banks and NBFCs, integrating their financial products through strong API solutions.

Its plug-and-play technology helps B2C platforms in different industries easily offer banking products. With its advanced infrastructure, Blostem enables financial institutions, B2C platforms and Super Apps to provide seamless and scalable financial services to customers.

Blostem reported a revenue of Rs 30.76 lakh for the year ending March 2024. It operates across India.

About One MobiKwik Systems

Established in 2009 by Upasana Taku and Bipin Preet Singh, MobiKwik now has 172 million registered users and 5 million merchants. Its payment GMV has doubled year-on-year to Rs 29,400 crore.

Revenue from operations grew to Rs 269 crore in Q3 FY25, up from Rs 229 crore in Q3 FY24. However, earnings fell by 7.6% in Q3 FY25 compared to Rs 291 crore in Q2 FY25.

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