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SaaS fintech Zaggle plans at least 2 acquisitions next fiscal to drive growth

YourStory

YourStory · 1y ago

SaaS fintech Zaggle plans at least 2 acquisitions next fiscal to drive growth

SaaS fintech platform Zaggle Prepaid Ocean Services Ltd is planning to acquire at least two companies in the next financial year to drive its growth. The company recently raised INR 595 crore through a qualified institutional placement and is evaluating potential targets in the SaaS fintech space. Zaggle aims to achieve a billion-dollar revenue within the next 5 to 6 years and is looking to strategically accelerate its growth trajectory through strategic acquisitions. The company recently acquired stakes in two companies, Span Across IT Solutions and Mobileware Technologies, and reported a three-fold increase in consolidated net profit for the July-September quarter.

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Zaggle raises stake in Mobileware with ₹7.25 cr investment

Inshorts · 10m ago

Zaggle raises stake in Mobileware with ₹7.25 cr investment

Fintech SaaS company Zaggle has acquired 4,622 equity shares for ₹7.25 crore from Mobileware's promoters, gaining a 12.34% stake on a fully diluted basis. Zaggle’s total shareholding in Mobileware now stands at 38.34%, up from 26%. The acquisition will help Zaggle develop new solutions for lending, credit, and card management using Mobileware’s UPI switch technology.

SaaS fintech firm Zaggle identifies three acquisition targets

VCCircle

VCCircle · 1y ago

SaaS fintech firm Zaggle identifies three acquisition targets

SaaS fintech firm Zaggle Prepaid Ocean Services Ltd is focusing on three acquisition targets to boost its post-IPO growth. According to Executive Chairman Raj Narayanam, the Mumbai-listed company's acquisition interests include segments like merchant card software, FASTag, and accounts management.

Zaggle Forges Partnership With EaseMyTrip For Expense Management Solutions

OutlookIndia

OutlookIndia · 1y ago

Zaggle Forges Partnership With EaseMyTrip For Expense Management Solutions

Zaggle, a SaaS-fintech platform, has announced a collaboration with EaseMyTrip to provide integrated travel and expense management solutions. The partnership aims to streamline workflows, ensure policy compliance, and offer real-time visibility into travel expenditure. The collaboration allows over 2800 Zaggle corporate clients access to the Zaggle EMS platform, enabling end-to-end management of travel and expenses. With India projected to become the fourth-largest global spender, this collaboration marks Zaggle's second major partnership in the travel domain, with plans to establish more alliances in the future.

Zaggle Partners Hero MotoCorp To Help Streamline And Optimise Management Of Its Staff Expenses

Inc42 · 1y ago

Zaggle Partners Hero MotoCorp To Help Streamline And Optimise Management Of Its Staff Expenses

Fintech SaaS startup Zaggle has entered into an agreement with Hero MotoCorp to provide its employee expense management platform, Zaggle Save. Zaggle Save is a multi-purpose card that can replace food cards, fuel cards, travel vouchers, gift cards, and more. The agreement with Hero MotoCorp will be in effect from July 4, 2024, until the agreement is terminated according to mutually agreed terms.

Zaggle Q3: PAT Jumps 10X YoY To INR 15.2 Cr

Inc42 · 2y ago

Zaggle Q3: PAT Jumps 10X YoY To INR 15.2 Cr

Fintech SaaS startup Zaggle saw a significant jump in its profit after tax (PAT), reporting a 10x increase to INR 15.2 Cr in Q3 of FY24, compared to INR 1.5 Cr in the same period last year. The company's strategic product diversification and cost-cutting measures contributed to the growth. Zaggle also achieved an all-time high quarterly revenue, with a 35.1% YoY increase to INR 199.5 Cr. Founder Narayanam highlighted the successful launch of commercial credit card offerings and the entry into the fleet loyalty card program as factors driving growth.

Zaggle Acquires 26% Stake In Digital Payments Processor Mobileware

Inc42 · 1y ago

Zaggle Acquires 26% Stake In Digital Payments Processor Mobileware

Fintech SaaS startup Zaggle has purchased a 26% stake in Mobileware Technologies (now called '86400') for INR 15.6 Cr. 86400, founded in 2010, offers digital banking and fintech solutions to enhance digital services in rural and urban areas for banks and financial institutions.

Fintech firm Zaggle acquires Rio Money for Rs 22 crore; plans to invest Rs 75 crore post-acquisition - The Economic Times

Economic Times

Economic Times · 2m ago

Fintech firm Zaggle acquires Rio Money for Rs 22 crore; plans to invest Rs 75 crore post-acquisition - The Economic Times

Fintech firm Zaggle has acquired Rio.Money, a digital banking platform, for Rs 22 crore to expand into consumer credit via UPI. Following this acquisition, Zaggle plans to invest Rs 75 crore to enhance Rio.Money's products. This strategic move enables Zaggle to issue RuPay-powered credit cards and UPI credit lines. Rio.Money's capabilities align with Zaggle's growth strategy, leveraging its user base to broaden customer segments. Zaggle's latest quarterly revenue was Rs 430 crore with a net profit of Rs 33 crore.

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Livemint

Livemint · 1y ago

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Bengaluru-based healthcare provider Aster DM Healthcare plans to increase its bed capacity to over 10,000 in the next three years through acquisitions and organic growth. The company intends to spend at least ₹1,000 crore ($136m) to acquire 2,000-4,000 beds and invest an additional ₹1,000 crore to add 1,700 beds organically. Aster DM aims to become one of India's top three healthcare providers and sees Uttar Pradesh as a potential market for expansion.

After Wakefit, Verlinvest lines up Purplle and Veeba for IPOs

Livemint

Livemint · 7m ago

After Wakefit, Verlinvest lines up Purplle and Veeba for IPOs

Verlinvest, a Belgian investment firm, plans to list Indian consumer startups Purplle and Veeba on the public markets following Wakefit's IPO filing. The firm expects at least two more consumer startups from its India portfolio to go public in the next two years. Verlinvest's investment strategy involves adding 2-3 domestic brands annually while supporting existing portfolio companies in their growth and public listing endeavors.

India’s biggest airline sees capacity growth slowing next year

Money Control

Money Control · 1y ago

India’s biggest airline sees capacity growth slowing next year

India's largest airline, IndiGo, expects slower capacity growth in the next fiscal year, with growth slowing to the "early double digits" compared to the current year. In the last quarter, the carrier experienced a growth of almost 27% in capacity and more than 23% in the number of passengers carried. IndiGo aims to add at least one aircraft to its fleet each week next year and plans to expand to 10 new destinations by 2025. It also anticipates managing a fleet of over 600 aircraft by 2030 to accommodate the projected increase in air travel in India.

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