One MobiKwik Systems Acquires 3.39% Stake in Blostem Fintech

Parent company of MobiKwik, One MobiKwik Systems, is buying a 3.39% stake in Blostem Fintech for Rs 1.49 crore. This investment forms part of the second tranche of a share subscription agreement entered into in March 2024. Blostem is a B2B banking infrastructure platform that focuses on Fixed Deposit aggregation and was established in 2021. The company has tie-ups with several banks and NBFCs and provides API solutions for integration of financial products. MobiKwik's user base has increased to 172 million, with 5 million merchants, and its payment GMV has doubled year-on-year to Rs 29,400 crore.

 

Source: Entrackr