MobiKwik to acquire 3.39% in B2B infra platform Blostem for Rs 1.49 crore

Fintech firm MobiKwik on Friday announced that the company will acquire a 3.39 per cent stake in business-to-business (B2B) banking infrastructure platform Blostem for Rs 1.49 crore.

The aggregate shareholding of the Gurugram-based listed firm in the platform is expected to grow to 6.79 per cent.

MobiKwik had entered into a share subscription and shareholders’ agreement with Blostem in March. It agreed to invest Rs 3 crore in two tranches as part of its investment to acquire equity in the B2B platform.

The first tranche of Rs 1.5 crore was paid in March for 3.4 per cent of the fully diluted paid-up capital of Blostem.

Founded in 2021, Blostem specialises in fixed deposit (FD) aggregation as its core offering. The company has built partnerships with multiple banks and non-banking financial companies (NBFCs). For the year ended March 2024, the company posted a revenue of Rs 30.76 lakh.

MobiKwik rolled out an FD product on its mobile app, in partnership with financial services firms, in October last year.

It partnered with Reserve Bank of India (RBI)-regulated small finance banks and NBFCs such as Suryoday Small Finance Bank and Bajaj Finance, among others, along with technology service provider Blostem.

MobiKwik reported a consolidated loss of Rs 55.2 crore in the third quarter of financial year 2025 (Q3 FY25), slipping after a profit of Rs 5.27 crore the same time last year. Sequentially, the fintech company made a loss of Rs 3.59 crore in Q2 FY24.

Revenue from operations grew 17.7 per cent: from Rs 228.93 crore in Q3 FY24 to Rs 269.47 crore in Q3 FY25. However, such revenue declined sequentially by 7.3 per cent: from Rs 290.64 crore in Q2 FY25.