Team StartupCity

• Blostem secures Pre-Series A funding; Rainmatter picks up a 9% stake.
• Startup enables fintechs and brokers to offer digital banking products via a unified API.
• Funds will support network expansion, new product launches, and senior hiring.

B2B banking infrastructure startup Blostem has raised its Pre-Series A round from Rainmatter, the investment arm backed by Zerodha. While the funding amount remains undisclosed, the round gives Rainmatter a 9% ownership in the company.

Founded by Ravi Jain, Sandeep Garg, Uday Sharma, and Pankaj Pratap Singh, Blostem provides a plug-and-play platform that helps brokers, fintech apps, payment firms, and wealth-tech companies launch retail banking products without building separate integrations for each bank. Its unified API supports fixed deposits, FD-backed credit cards, and Credit-on-UPI, allowing partners to integrate once and connect with multiple banks and NBFCs.

The company has built a network of 10 banking and lending partners for its fixed-deposit product. These include Suryoday Small Finance Bank, Unity SFB, Shivalik SFB, Utkarsh SFB, Bajaj Finance, Shriram Finance, and Mahindra Finance, with additional integrations currently underway.

Blostem already works with several large fintech platforms such as Mobikwik, Jupiter Money, Upstox, Aditya Birla Capital Digital, IRIS by KFin Technologies, Centricity Wealth, and GoldenPi. The startup said its FD marketplace will soon be live on Zerodha and other major platforms. Over the next few years, Blostem aims to capture 40% of India’s digital fixed-deposit volumes through its partner network.

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The newly raised capital will be used to broaden distribution, deepen banking partnerships, and introduce new offerings, including FD-backed credit cards and Credit-on-UPI. The company also plans to hire senior talent across technology, compliance, and partnerships to support its next phase of growth.