Incorporated in 2011, Zaggle Prepaid Ocean Services Limited provides financial technology (fintech) products and services to manage corporate business expenses through automated and innovative workflows.

The company offers fintech and SaaS products and services to corporates working in the fields of banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile industries. The SaaS platform is designed for: (i) business spend management (including expense management and vendor management); (ii) rewards and incentives management for employees and channel partners; and (iii) gift card management for merchants, which we refer to as customer engagement management system (CEMS).

Zaggle’s product portfolio includes:

1. Propel: a corporate SaaS platform for channel rewards and incentives, employee rewards and recognition
2. Save: a SaaS-based platform and a mobile application that offers expense management solutions for business spend management facilitating digitized employee reimbursements and tax benefits.
3. CEMS: a customer engagement management system that enables merchants to comprehensively manage their customer experiences including rewarding merchants through gift card and loyalty benefits.
4. Zaggle Payroll Card: a prepaid payroll card that allows customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments.
5. Zoyer: an integrated data-driven, SaaS-based business spend management platform with embedded automated finance capabilities in core invoice-to-pay workflows.

Zaggle Prepaid Ocean Services’ clientele includes companies like TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP Sanjiv Goenka Group), Hiranandani Group, Cotiviti, Greenply Industries, and so on.

As of fiscal 2023, the company has over 250 employees, 7 offices across India, more than 1750 customers, and over 1.7 million end users.

For year/ period ended ( in Cr.)

• Differentiated SaaS-based fintech platform, offering a combination of payment instruments, mobile application and API integrations;
• In-house developed technology and strong network effect;
• Business model with diverse sources of revenue and low customer acquisition and retention costs;
• Diversified customer relationships across sectors along with preferred banking and merchant partnerships; and
• Seasoned management team with deep domain expertise supported by a professional workforce.

1. Expenditure towards Customer acquisition and retention.
2. Expenditure towards the development of technology and products.
3. Repayment/ pre-payment of certain borrowings, in full or part, availed by the company.
4. General corporate purposes.

The company is a unique player in fintech products and related services with vide portfolio of offerings. However, investors may park funds for the medium to long-term rewards.