Blostem, a B2B platform that helps distribute fixed deposits (FDs), has raised new seed funding from AC Ventures.
This funding adds to earlier support from Mobikwik and Kapil Bharti (co-founder of Delhivery), bringing the total seed funding to Rs 4 crore. The startup is now valued at around Rs 45 crore.
Blostem said in a press release that it will use the new funds to improve its fixed deposit (FD) services, increase FD transactions on partner platforms, and grow into other banking, investment, and savings products.
Blostem was co-founded in September 2021 by Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh. The company builds infrastructure and user-friendly tools to make fixed deposit (FD) distribution easier in India.
Its plug-and-play system allows digital platforms—like brokers, payment apps, and wealth-tech companies—to offer fully digital FDs from different banks and NBFCs with just one integration. Blostem says that top platforms like Mobikwik, Upstox, and Centricity Wealth are already using its services.
The Delhi-based startup makes things easier by removing the need for separate deals and setups with each bank or NBFC.
B2C platforms can offer fixed deposits from many banks and NBFCs through just one connection with Blostem without needing to partner with each one separately. Similarly, banks and NBFCs can reach many B2C platforms by connecting to Blostem just once.
“Fixed deposits have long been one of the most trusted investment options in India, but access has largely remained within 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,” said Ravi Jain, co-founder and MD of Blostem.
Blostem says it currently has partnerships with around 10 banks and NBFCs for offering fixed deposit products. Over 30 B2C platforms have signed up to use its services. The startup aims to handle more than 40% of all digital fixed deposit transactions through its platform in the future.
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