Zaggle targets 50% revenue growth this fiscal

Zaggle Prepaid Ocean Services, a leading SaaS FinTech player, targets to achieve revenue growth of about 40-50 per cent and an adjusted EBITDA of about 11-13 per cent in FY24 on the back of strong business partnerships and robust order inflows.

• Also read: Zaggle partners with Hyperface to power corporate credit cards

It has recently partnered with Emcure Pharma, Wipro, Arcadis Consulting India for employee flexi benefits solutions. Its prepaid cards in partnership with banking institutions are also gaining traction. Over the past 40 days, Zaggle has partnered with over 50 corporates, said the company.

Zaggle has also entered into a strategic partnership with leading travel tech platform EaseMyTrip to offer travel and expense management solutions to corporate entities. The tie-up will ensure a smooth integration of travel booking and expense reporting processes. Zaggle will extend access to its Expense Management Solutions (EMS) platform to its over 2,800 corporate clients.

Corporate clients will now get seamless access to Zaggle EMS platform right from booking flights, hotels, and other travel arrangements to managing the expense process incurred during the travel.

The company plans to integrate multiple solutions such as forex, travel and other services that corporates look to offer their employees.

Several USPs

Avinash Godkhindi, Managing Director & CEO, Zaggle, said the company offers several USPs including seamless integration of travel booking and expense management, real-time visibility into expenditures, and automated message compliance with corporate policies.

• Also read: Easy Trip Planners partners with Zaggle Prepaid; shares up

Through this partnership, Zaggle will not only earn revenue with every travel booking made through its interface but also gain additional corporate customers through referrals from EaseMyTrip.

Going ahead, Godkhindi said the company will focus on further enhancing product suites, strengthening partnerships and expanding market presence.

Zaggle Prepaid Ocean Services shares have zoomed over 40 per cent in the last one month. In its Q3 FY24, Zaggle achieved its highest ever quarterly revenue of ₹199 crore and net profit of ₹15 crore. The company attributed its robust performance to its product portfolio’s strategic diversification and the successful launch of credit card offerings.

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