Blostem, a B2B infrastructure platform for fixed deposit (FD) distribution, has raised fresh seed funding from AC Ventures. This latest funding adds to earlier backing from Mobikwik and Kapil Bharti (co-founder of Delhivery), bringing its total seed funding to ₹4 crore, and valuing the Delhi-based startup at approximately ₹45 crore.
The fresh funds raised will be used to strengthen its fixed deposit offering, scale up FD transaction volumes across partner platforms and expand into additional banking, investment, and savings products.
Founded in September 2021 by Ravi Jain, Sandeep Garg, Uday Sharma and Pankaj Pratap Singh, Blostem is building a unified infrastructure and experience layer that connects banks, NBFCs, and B2C platforms through a single integration.
Its plug-and-play platform allows digital platforms—such as brokers, payment apps, and wealth-tech companies—to seamlessly offer fully digital FDs from multiple issuers, eliminating the need for fragmented integrations and one-off partnerships.
Blostem’s platform is being used by prominent players, including Mobikwik, Upstox, and Centricity Wealth, enabling these platforms to offer their users fixed deposits from a diverse range of banks and NBFCs without having to partner with each financial institution individually.
Blostem currently partners with around 10 banks and NBFCs for its fixed deposit product and has over 30 B2C platforms signed up on its platform. The startup aims to command over 40% of digital FD volumes through its ecosystem.
Ravi Jain, co-founder and MD of Blostem, siad, “Fixed deposits have long been one of the most trusted investment options in India, but access has largely remained confined to traditional banking ecosystems. At Blostem, our vision is to make fixed deposits—and eventually other banking products—available on every digital platform in India through a single, compliant, and seamless infrastructure & experience layer.”
