Blostem, a B2B fintech startup focused on fixed deposit (FD) distribution, has successfully raised INR 4 crore in a seed funding round led by AC Ventures. The round also saw participation from existing investors Mobikwik and Kapil Bharti, co-founder of Delhivery. This round has taken the company’s valuation to around INR 45 crore. A big milestone in the journey to make digital access to traditional banking products in India.
Founded in September 2021 by Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh, Blostem has been building itself as the backbone of fixed deposit distribution in the digital finance ecosystem of the country. Instead of targeting retail consumers directly, the Delhi-based startup provides a plug-and-play infrastructure layer for digital platforms — stock brokers, payment apps, wealth-tech firms — to offer fully digital FDs from multiple banks and NBFCs through a single integration.
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Fixing the Fixed Deposit Distribution Problem
The traditional FD distribution landscape in India has been fragmented, requiring businesses to have multiple integrations and partnerships with individual banks and NBFCs. This is time-consuming and resource-intensive. Blostem’s unified API solves this inefficiency by providing a single integration that connects both ends of the spectrum: B2C platforms looking to offer deposit products and financial institutions looking to expand their distribution reach.
By streamlining this backend complexity, Blostem enables digital platforms to seamlessly onboard FD products from several issuers without the hassle of individual compliance and tech partnerships. Banks and NBFCs get access to a large network of customer-facing platforms through a single connection to Blostem.
Quick Adoption and Strategic Partnerships
Blostem’s platform has already been adopted by major players such as Mobikwik, Upstox, and Centricity Wealth. According to company statements, it currently has active partnerships with around 10 banks and NBFCs and is powering FD distribution across more than 30 B2C platforms — a figure expected to grow in the coming months.
“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 Managing Director of Blostem.
The Future: Scaling and Diversification
With new capital in hand, Blostem will focus on three key areas: deepening and optimizing its FD infrastructure, scaling transactions across its partner ecosystem and diversifying its product offering to include savings accounts and investment solutions.
The company has set an ambitious target — to capture over 40% of India’s digital fixed deposit volumes through its ecosystem shortly. As financial services in India continue their shift to digital rails, Blostem’s infrastructure-first approach places it in a strong position to become an integral layer in this transformation.
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A Quiet Giant in the Making
In a fintech landscape often dominated by flashy consumer apps and neobank branding, Blostem represents a quieter but no less vital revolution — one that powers the very pipes of India’s digital financial services. By focusing on infrastructure, the startup is not just solving a problem; it’s building for the future of digital savings and banking in India.
AC Ventures and other investors are backing this young startup. The message is clear: infrastructure — especially in a complex financial system like India’s — is where long-term value and real disruption happen.
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