Zaggle Inks Pact To Offer SaaS Solutions To Zepto

Listed fintech SaaS company Zaggle has signed an agreement to offer its solutions to quick commerce major Zepto’s parent KiranaKart Technologies. 

In an exchange filing, Zaggle said it will provide its expense management platform “Zaggle Zoyer Petty Cash” and employee benefits platform “Zaggle Save” to Zepto. 

“.. this is to inform you that Zaggle Prepaid Ocean Services Limited (Zaggle), has entered into an agreement with KiranaKart Technologies Private Limited,” said the fintech SaaS startup. 

Zaggle Zoyer Petty Cash helps businesses manage minor expenses in a streamlined and automated way. The startup claims that this software assists companies with real-time tracking, preventing cash-leakage, pre-checking spendings and provides high control and transparency. 

On the other hand, Zaggle Save is an employee expense management software which helps employees save tax with flexible benefit plans. Additionally, the software helps the employer manage employee benefits, such as meal allowance, fuel card, among others, with a single card.

The customer service agreement with Zepto will further boost Zaggle’s order book and add a major homegrown player to its client list. 

The development comes close on the heels of Zaggle raising INR 594.84 Cr via qualified institutional placement (QIP) last month. The fintech SaaS platform issued 1.13 Cr equity shares to eligible qualified institutional buyers. 

Recently, Inc42 reported that the company is eyeing three acquisitions and investments by March this year.

Notably, in September 2024, Zaggle acquired a 26% stake in Mobileware Technologies for INR 15.6 Cr. 

Founded in 2011 by Raj Narayanam, Zaggle provides a spend management and corporate employee benefits platform. Its offerings help businesses automate their accounts and issue prepaid cards. Its portfolio of SaaS products also includes tax and payroll software. 

Meanwhile, on the financial front, Zaggle’s consolidated net profit jumped 167.67% to INR 20.29 Cr in the second quarter (Q2) of the financial year 2024-25 (FY25) from INR 7.58 Cr in the year-ago period. Operating revenue zoomed 64.21% to INR 302.55 Cr in the quarter under review from INR 184.24 Cr in Q2 FY24. 

Shares of the company closed Wednesday’s (January 8) trading session 2.47% lower at INR 532.25 on the BSE. 

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