Listed fintech firm MobiKwik acquires 3.39% stake in Blostem fintech

Fintech firm MobiKwik, through its parent company One MobiKwik Systems, is set to strengthen its position in the fintech space by acquiring a 3.39% stake in Blostem Fintech. 

The investment is part of the second tranche of a share subscription and shareholders’ agreement signed on March 13, 2024.

MobiKwik has committed to invest a total of about Rs 3 crore in two phases, with the second tranche of around Rs 1.49 crore expected to be completed by Feb. 28, 2025.

Investment details  

In March 2024, MobiKwik made the first payment of about Rs 1.5 crore, securing a 3.40% stake in Blostem’s fully diluted paid-up capital. Once this second tranche is finalized, MobiKwik’s total stake in Blostem will rise to about 6.79%.

According to disclosures, no government or regulatory approvals are needed for this transaction, and the deal has been arranged as a cash consideration rather than a share swap.

What does Blostem Fintech do? 

Blostem Fintech, founded in 2021, is a B2B banking infrastructure platform focused on fixed deposit aggregation. Registered in Delhi, it partners with multiple banks and NBFCs, integrating financial products through its API-based solutions.

Blostem’s technology helps consumer-focused platforms across various sectors distribute banking products efficiently, while also offering secure and scalable services to financial institutions.

The company recorded revenue of Rs 30.76 lakh for the financial year ending in March 2024 and operates across India.

MobiKwik’s growth  

MobiKwik has seen steady expansion in recent quarters, with revenue from operations reaching Rs 269 crore in the third quarter of fiscal year 2025, compared with Rs 229 crore during the same period the previous year.

However, earnings declined by 7.6% from Rs 291 crore in the second quarter of FY25. The company’s user base has grown to 172 million registered users, and it now serves 5 million merchants. Its payment Gross Merchandise Value has doubled year-on-year to Rs 29,400 crore.