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MobiKwik acquires 3.39% stake in API infra startup Blostem Fintech

MobiKwik acquires 3.39% stake in API infra startup Blostem Fintech

24 Feb 2025, 01:13 AM

Founded in 2021 by Ravi Jain and Sandeep Garg, Blostem is a B2B banking infrastructure platform specializing in Fixed Deposit (FD) aggregation.

MobiKwik Q2 FY25: Revenue at Rs 291 crore and Rs 3.5 crore loss

MobiKwik Q2 FY25: Revenue at Rs 291 crore and Rs 3.5 crore loss

07 Jan 2025, 23:43 PM

MobiKwik and Lendbox struck a deal where MobiKwik gave up Rs 24 cr in income for Q1 FY25, and in return, Lendbox waived Rs 42 cr in facilitation fees. These adjustments impacted MobiKwik's current quarter's revenue and expenses.

Fintech Highlights

  1. RBI committee proposes AI framework for financial services sector

  2. Slice launches second UPI-integrated branch in Gurugram

  3. BharatPe in advanced talks to raise $80-$100 million in pre-IPO round

  4. ICICI hikes minimum balance requirement; Draws flak from Kotak exec

  5. BharatPe reports adjusted profit before tax of Rs 6 crore in FY25
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AI/Emerging Tech

  1. xAI co-founder Igor Babuschkin steps down to launch own venture

  2. Anthropic acquires team behind Humanloop

  3. Perplexity AI launches bold pitch to buy Google's Chrome for $34.5 billion

  4. AI unicorn Fractal Analytics files draft papers for IPO

  5. Nvidia, AMD agree to pay 15% of high-end AI chip revenue from China to US govt
  6. Read more news...

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