MobiKwik to Buy 3.39% Stake in B2B Infra Platform Blostem for Rs 10.49 Mn
22 Feb 2025
2 Min Read
CW Team
Fintech firm MobiKwik has announced the acquisition of a 3.39 per cent stake in business-to-business (B2B) banking infrastructure platform Blostem for Rs 10.49 million. Following the completion of this deal, MobiKwik's total shareholding in Blostem is projected to increase to 6.79 per cent.
The investment is part of a share subscription and shareholders' agreement signed between MobiKwik and Blostem in March. Under this agreement, MobiKwik committed to investing Rs 30 million in two tranches to acquire equity in the B2B platform. The first tranche of Rs 10.5 million was disbursed in March, securing a 3.4 per cent stake in Blostem's fully diluted paid-up capital.
Blostem, established in 2021, focuses on fixed deposit (FD) aggregation as its primary service. The company has formed partnerships with multiple banks and non-banking financial companies (NBFCs) to facilitate its operations. For the financial year ending March 2024, Blostem reported revenue of Rs 3.76 million.
In October 2023, MobiKwik introduced an FD product on its mobile application in collaboration with financial services firms. The initiative included partnerships with Reserve Bank of India (RBI)-regulated Small Finance Banks and NBFCs such as Suryoday Small Finance Bank and Bajaj Finance, alongside technology service provider Blostem.
MobiKwik reported a consolidated loss of Rs 550.2 million in the third quarter of the financial year 2025 (Q3FY25), following a profit of Rs 50.27 million during the same period the previous year. On a sequential basis, the company had posted a loss of Rs 30.59 million in Q2FY24. Revenue from operations increased by 17.7 per cent, rising from Rs 2.28 billion in Q3FY24 to Rs 2.69 billion in Q3FY25, but experienced a sequential decline of 7.3 per cent.
News source: Business Standard
Image Source: Image generated by ChatGPT
Fintech firm MobiKwik has announced the acquisition of a 3.39 per cent stake in business-to-business (B2B) banking infrastructure platform Blostem for Rs 10.49 million. Following the completion of this deal, MobiKwik's total shareholding in Blostem is projected to increase to 6.79 per cent.
The investment is part of a share subscription and shareholders' agreement signed between MobiKwik and Blostem in March. Under this agreement, MobiKwik committed to investing Rs 30 million in two tranches to acquire equity in the B2B platform. The first tranche of Rs 10.5 million was disbursed in March, securing a 3.4 per cent stake in Blostem's fully diluted paid-up capital.
Blostem, established in 2021, focuses on fixed deposit (FD) aggregation as its primary service. The company has formed partnerships with multiple banks and non-banking financial companies (NBFCs) to facilitate its operations. For the financial year ending March 2024, Blostem reported revenue of Rs 3.76 million.
In October 2023, MobiKwik introduced an FD product on its mobile application in collaboration with financial services firms. The initiative included partnerships with Reserve Bank of India (RBI)-regulated Small Finance Banks and NBFCs such as Suryoday Small Finance Bank and Bajaj Finance, alongside technology service provider Blostem.
MobiKwik reported a consolidated loss of Rs 550.2 million in the third quarter of the financial year 2025 (Q3FY25), following a profit of Rs 50.27 million during the same period the previous year. On a sequential basis, the company had posted a loss of Rs 30.59 million in Q2FY24. Revenue from operations increased by 17.7 per cent, rising from Rs 2.28 billion in Q3FY24 to Rs 2.69 billion in Q3FY25, but experienced a sequential decline of 7.3 per cent.
News source: Business StandardImage Source: Image generated by ChatGPT
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
