B2B banking-infrastructure platform Blostem has raised its Pre-Series A round led by Rainmatter, the investment arm backed by Zerodha. While the investment amount remains undisclosed, the round gives Rainmatter a 9% stake in the company, marking a strong endorsement of Blostem’s API-driven approach to digital retail banking.
Unified Banking Stack for Fintechs and Wealth Platforms
Founded by Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh, Blostem provides a plug-and-play infrastructure layer that enables fintech apps, brokers, wealth-tech firms and payment companies to offer retail-banking products without building separate integrations with every bank.
Its unified API supports fixed deposits, FD-backed credit cards, and Credit-on-UPI, allowing partners to integrate once and access multiple banks and NBFCs instantly.
Blostem has already onboarded 10 banks and NBFCs, including Suryoday Small Finance Bank, Unity SFB, Shivalik SFB, Utkarsh SFB, Bajaj Finance, Shriram Finance, and Mahindra Finance, with more integrations underway.
Growing Partner Network and Distribution Strength
The platform powers digital banking products for leading fintechs such as Mobikwik, Jupiter Money, Upstox, Aditya Birla Capital Digital, IRIS by KFin Technologies, Centricity Wealth, and GoldenPi. Blostem also confirmed that its FD marketplace will go live on Zerodha and other large platforms shortly.
The company aims to capture 40% of India’s digital FD volumes in the coming years by leveraging its expanding partner ecosystem and multi-institution network.
Capital Deployment and Product Expansion
The newly raised capital will be used to expand distribution, strengthen partnerships with banks, and launch new retail-banking products including FD-backed credit cards and Credit-on-UPI. Blostem also plans to hire senior talent across technology, compliance, and partnerships as demand for embedded banking scales.
Final Take
Blostem’s infrastructure-first model positions it as a core enabler of India’s next-generation digital banking ecosystem, where unified APIs streamline access to financial products for millions of users.
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