MobiKwik and KiranaPro: New Investments in India's Fintech and Quick-Commerce Landscape
March 1, 2025, 11:59 pm
Location: India, Haryana, Gurugram
Employees: 501-1000
Founded date: 2009
Total raised: $5.01B
In the bustling world of Indian startups, two recent investments are making waves. MobiKwik, a prominent player in the fintech arena, is doubling down on its growth strategy. Meanwhile, KiranaPro, a fresh face in the quick-commerce sector, is attracting attention with its innovative approach. Both stories highlight the dynamic nature of India's startup ecosystem.
MobiKwik is not just a name; it’s a force. The fintech company is on a mission to reshape banking infrastructure. Recently, it announced plans to invest ₹1.49 crore in Blostem Fintech, a B2B platform that specializes in fixed deposit aggregation. This investment will secure MobiKwik a 3.39% stake in Blostem. The deal is part of a larger agreement that began last year, showcasing MobiKwik's commitment to nurturing emerging financial technologies.
Blostem, co-founded by Ravi Jain and Sandeep Garg in 2021, is carving out a niche in the financial services sector. Its primary offering is fixed deposit aggregation, a service that simplifies the investment process for consumers. By partnering with various banks and non-banking financial companies (NBFCs), Blostem integrates their financial products through advanced API solutions. This approach not only streamlines access to banking services but also enhances the user experience.
The company’s revenue figures tell a story of potential. In the fiscal year ending March 2024, Blostem reported earnings of ₹30.76 lakh. While this may seem modest, it reflects the early stages of a startup poised for growth. With MobiKwik's backing, Blostem is likely to accelerate its expansion, leveraging MobiKwik's extensive network and resources.
MobiKwik itself is riding a wave of success. The company reported a significant increase in operating revenue, climbing from ₹229 crore in Q3 FY24 to ₹269 crore in Q3 FY25. However, it faced a slight dip compared to the previous quarter, indicating the challenges of maintaining momentum in a competitive market. Despite this, MobiKwik boasts an impressive user base of 172 million registered users and 5 million merchants. Its payment Gross Merchandise Value (GMV) has doubled year-on-year, reaching ₹29,400 crore.
But MobiKwik isn’t the only player making headlines. KiranaPro, a quick-commerce startup based in Thrissur, Kerala, is also gaining traction. Founded in 2024, KiranaPro focuses on grocery delivery from local kirana stores. The startup has recently secured investment from badminton star PV Sindhu, who will also serve as its brand ambassador. This partnership adds a layer of credibility and visibility to KiranaPro, potentially attracting more customers and investors.
KiranaPro's model is straightforward yet effective. By integrating with the Open Network for Digital Commerce (ONDC), the platform connects over 30,000 local stores to consumers. This not only supports local businesses but also meets the growing demand for quick and convenient grocery delivery. In a world where time is money, KiranaPro is tapping into a market ripe for disruption.
The quick-commerce sector is booming. Consumers are increasingly turning to online platforms for their everyday needs. KiranaPro's approach to grocery delivery aligns perfectly with this trend. By focusing on local kirana stores, the startup not only fosters community ties but also offers a unique selling proposition that larger players may overlook.
Both MobiKwik and KiranaPro exemplify the innovative spirit of India's startup ecosystem. They are not just companies; they are part of a larger narrative about transformation and opportunity. MobiKwik is redefining financial services, while KiranaPro is reshaping how consumers access groceries. Together, they represent the diverse landscape of Indian entrepreneurship.
Investments in startups like Blostem and KiranaPro signal a broader trend. Investors are increasingly looking for opportunities in sectors that promise growth and innovation. The backing from established players like MobiKwik and high-profile individuals like PV Sindhu highlights the confidence in these emerging businesses.
As these companies evolve, they will face challenges. Competition is fierce, and the market is ever-changing. However, with strategic investments and a clear vision, both MobiKwik and KiranaPro are well-positioned to navigate the complexities of their respective industries.
In conclusion, the stories of MobiKwik and KiranaPro are emblematic of a vibrant startup culture in India. They reflect a landscape where innovation thrives, and opportunities abound. As these companies continue to grow, they will undoubtedly shape the future of fintech and quick-commerce in the country. The journey is just beginning, and the possibilities are endless.
MobiKwik is not just a name; it’s a force. The fintech company is on a mission to reshape banking infrastructure. Recently, it announced plans to invest ₹1.49 crore in Blostem Fintech, a B2B platform that specializes in fixed deposit aggregation. This investment will secure MobiKwik a 3.39% stake in Blostem. The deal is part of a larger agreement that began last year, showcasing MobiKwik's commitment to nurturing emerging financial technologies.
Blostem, co-founded by Ravi Jain and Sandeep Garg in 2021, is carving out a niche in the financial services sector. Its primary offering is fixed deposit aggregation, a service that simplifies the investment process for consumers. By partnering with various banks and non-banking financial companies (NBFCs), Blostem integrates their financial products through advanced API solutions. This approach not only streamlines access to banking services but also enhances the user experience.
The company’s revenue figures tell a story of potential. In the fiscal year ending March 2024, Blostem reported earnings of ₹30.76 lakh. While this may seem modest, it reflects the early stages of a startup poised for growth. With MobiKwik's backing, Blostem is likely to accelerate its expansion, leveraging MobiKwik's extensive network and resources.
MobiKwik itself is riding a wave of success. The company reported a significant increase in operating revenue, climbing from ₹229 crore in Q3 FY24 to ₹269 crore in Q3 FY25. However, it faced a slight dip compared to the previous quarter, indicating the challenges of maintaining momentum in a competitive market. Despite this, MobiKwik boasts an impressive user base of 172 million registered users and 5 million merchants. Its payment Gross Merchandise Value (GMV) has doubled year-on-year, reaching ₹29,400 crore.
But MobiKwik isn’t the only player making headlines. KiranaPro, a quick-commerce startup based in Thrissur, Kerala, is also gaining traction. Founded in 2024, KiranaPro focuses on grocery delivery from local kirana stores. The startup has recently secured investment from badminton star PV Sindhu, who will also serve as its brand ambassador. This partnership adds a layer of credibility and visibility to KiranaPro, potentially attracting more customers and investors.
KiranaPro's model is straightforward yet effective. By integrating with the Open Network for Digital Commerce (ONDC), the platform connects over 30,000 local stores to consumers. This not only supports local businesses but also meets the growing demand for quick and convenient grocery delivery. In a world where time is money, KiranaPro is tapping into a market ripe for disruption.
The quick-commerce sector is booming. Consumers are increasingly turning to online platforms for their everyday needs. KiranaPro's approach to grocery delivery aligns perfectly with this trend. By focusing on local kirana stores, the startup not only fosters community ties but also offers a unique selling proposition that larger players may overlook.
Both MobiKwik and KiranaPro exemplify the innovative spirit of India's startup ecosystem. They are not just companies; they are part of a larger narrative about transformation and opportunity. MobiKwik is redefining financial services, while KiranaPro is reshaping how consumers access groceries. Together, they represent the diverse landscape of Indian entrepreneurship.
Investments in startups like Blostem and KiranaPro signal a broader trend. Investors are increasingly looking for opportunities in sectors that promise growth and innovation. The backing from established players like MobiKwik and high-profile individuals like PV Sindhu highlights the confidence in these emerging businesses.
As these companies evolve, they will face challenges. Competition is fierce, and the market is ever-changing. However, with strategic investments and a clear vision, both MobiKwik and KiranaPro are well-positioned to navigate the complexities of their respective industries.
In conclusion, the stories of MobiKwik and KiranaPro are emblematic of a vibrant startup culture in India. They reflect a landscape where innovation thrives, and opportunities abound. As these companies continue to grow, they will undoubtedly shape the future of fintech and quick-commerce in the country. The journey is just beginning, and the possibilities are endless.