Zaggle would provide HT Media its Zaggle Save (Employee expense management & benefits) product while it would provide its employee reward program Zaggle Propel reward platform to Neuroglia Health
This comes after the company earlier this month inked pack to offer its offerings to quick commerce major Zepto’s parent KiranaKart Technologies
Zaggle in December told Inc42 that it is eyeing to ink over 200 new contracts with enterprises over the next few months
Zaggle has entered into agreements with Neuroglia Health Private Limited and HT Media Limited to offer its services.
Zaggle would provide HT Media its Zaggle Save (Employee expense management & benefits) product while it would provide its employee reward program Zaggle Propel reward platform to Neuroglia Health.
This comes after the company earlier this month inked pack to offer its offeings to quick commerce major Zepto’s parent KiranaKart Technologies.
Zaggle in December told Inc42 that it is eyeing to ink over 200 new contracts with enterprises over the next few months. It currently has around 3,200 corporate customers.
Founded in 2011 by Raj Narayanam, Zaggle currently provides expenses, payments, and corporate employee benefits solutions to enterprises. It offers a range of SaaS products, such as Zaggle Save for managing expenses and rewards, Zaggle EMS for expense management, and Zaggle Propel for employee rewards and incentives.
The company claims to have issued 50 Mn prepaid cards in India through partner banks and serves over 3 Mn users. Last month, the company raised nearly INR 595 Cr via qualified institutional placement (QIP).
Recently, Inc42 reported that it is eyeing three new investments and acquisitions by March 2025 to expand its offerings and top line. Not to mention, the company has been on an acquisition shopping in recent times.
While it acquired a 98.32% stake in Span Across IT Solutions for INR 32.07 Cr in September, it bought a 26% stake in Mobileware (now known as ‘86400’) for INR 15.6 Cr in the same month.
On the financial front, Zaggle posted a 167.67% jump in its consolidated profit after tax (PAT) to INR 20.29 Cr in Q2 FY25 from INR 7.58 Cr in the year-ago period. Revenue from operations zoomed 64.21% to INR 302.55 Cr from INR 184.24 Cr in Q2 FY24.
Shares of Zaggle have surged 220.45% from their listing price of INR 164 in September last year. The stock ended Friday’s trading session 0.64% lower at INR 524.55 on the BSE. The stock has gained nearly 141.88 in the last year.
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