B2B banking infrastructure platform Blostem has raised its Pre-Series A round led by Rainmatter, the investment arm backed by Zerodha, for an undisclosed amount. The fundraise gives Rainmatter a 9% stake in the fast-growing fintech startup.
Founded by Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh, Blostem provides a plug-and-play infrastructure layer that enables brokers, fintech apps, payment players, and wealth-tech platforms to offer retail digital-banking products—without integrating with each bank individually. Through its unified API, partners can launch fixed deposits, FD-backed credit cards, and Credit-on-UPI seamlessly.
Blostem has already built a network of 10 banks and NBFCs for its FD marketplace, including:
Suryoday Small Finance Bank, Unity SFB, Shivalik SFB, Utkarsh SFB, Bajaj Finance, Shriram Finance, and Mahindra Finance. More integrations are in the pipeline.
The company works with leading fintech players such as Mobikwik, Jupiter Money, Upstox, Aditya Birla Capital Digital, IRIS by KFin Technologies, Centricity Wealth, and GoldenPi. Its FD marketplace is set to go live soon on Zerodha and other major platforms, marking a significant expansion in reach.
Blostem aims to capture 40% of India’s digital FD volumes over the next few years by accelerating distribution through partner platforms.
The newly raised capital will be deployed to expand distribution, strengthen partnerships with banks, and develop new products such as FD-backed credit cards and Credit-on-UPI. The company will also hire senior talent across technology, compliance, and partnerships to support its next phase of scale.
By: Arushi Agarwal
