Zaggle plans to invest up to ₹7.97 Cr in Unobanc, which provides technology infrastructure for digital cross-border payments and remittances, to acquire up to 19.9% stake
The investment strengthens Zaggle’s presence in cross-border payments, forex and remittances as it expands its financial services portfolio
Unobanc holds an FFMC licence and has RBI’s in-principle approval for an authorised dealer Category-II licence. The deal is expected to close within 90 days
Fintech SaaS company Zaggle Prepaid Ocean Services plans to invest up to ₹7.97 Cr in Unobanc Pvt Ltd, which provides technology infrastructure for digital cross-border payments and remittances in India.
The investment, which will be made in one or more tranches through a cash consideration, is expected to be completed within 90 days, subject to the execution of definitive agreements, the company said in an exchange filing.
Founded in 2019, Unobanc is a wholly owned subsidiary of Hop Financial Solutions. The company holds a fully fledged money changer licence and has received in-principle approval from the RBI for an authorised dealer Category-II licence, enabling it to offer fully digital cross-border payments, remittances and foreign exchange services.
Zaggle said the investment will strengthen its cross-border payments, forex and remittances business while enhancing its ability to offer foreign exchange solutions to both corporate and retail customers beyond India.
Unobanc reported a turnover of ₹17.4 Cr in FY25, up from ₹15.63 Cr in FY24 and ₹14.4 Cr in FY23. Its EBITDA improved to ₹1.37 Cr in FY25 from ₹0.05 Cr in the previous fiscal year.
The latest investment comes after Zaggle reported a strong performance for the quarter ended March 31, 2026. Its consolidated net profit rose 30.4% to ₹40.6 Cr in Q4 FY26 from ₹31.1 Cr a year ago. On a sequential basis, profit increased 9.4% from ₹37.1 Cr.
Revenue from operations jumped 49.9% to ₹617.9 Cr in the March quarter from ₹412.2 Cr a year ago. Sequentially, revenue rose 17.6% from ₹525.5 Cr.
During the company’s Q4 FY26 earnings call, cofounder and executive chairman Raj P Narayanam said Zaggle expects standalone revenue to grow 25%-30% in FY27, while consolidated revenue is projected to rise about 40%.
Shares of Zaggle were trading 0.51% lower at ₹206.80 on the BSE. The company’s market capitalisation stood at ₹2,780 Cr (about $288.8 Mn).
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