What we do Zaggle Prepaid Ocean Services Ltd is a B2B2C fintech SaaS company specializing in spend management, prepaid cards, and business financial software with a large corporate and user base in India. |
Founded in 2,011 |
Market share Among India's largest prepaid card issuers and leading spend management SaaS providers, serving diverse sectors including finance, technology, healthcare, and manufacturing. |
Problem solved Simplifying corporate spend management, employee expense reimbursements, tax compliance, and providing seamless payment and rewards solutions for businesses and users. |
Top clients or who we serve Serving over 3,700 corporate clients including Tata Steel, Persistent Systems, and Tech Mahindra, with 3.7 million users; operating B2B2C across multiple industries. |
Key management Dr. Raj P Narayanam, Founder & Executive Chairman; Avinash Ramesh Godkhindi, Managing Director & CEO with over a decade in fintech leadership. |
Our journey and innovations Founded in 2011, became public in 2023; launched Propel, Save, Zoyer platforms; introduced wearable payments and international payment solutions; completed strategic acquisitions expanding product portfolio. |
Where we operate Primarily India with partnerships expanding into UAE and GIFT City; subsidiary in the UK; growing presence in cross-border payments and corporate travel markets. |
Top products or what we offer Prepaid and commercial cards; Propel for channel incentives; Save for expense management; Zoyer integrated finance platform; spend analytics via Zatix; ZIP for international payments. |
Top brands Propel (market leading incentive platform), Save (expense management SaaS), Zoyer (invoice to pay automation), Zakey (wearable payment device), ZIP (international payments gateway). |
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Recurring vs cyclical contribution Revenue driven by recurring SaaS fees, program fees from prepaid card transactions, and service fees, ensuring stable cash flow with growth in digital payments. |
Our industry position Market leader in prepaid card issuance and corporate spend management SaaS, with strategic bank partnerships and a diversified financial technology portfolio. |
Financial highlights FY25 revenue ₹1302 crore (68% YoY growth), PAT ₹87.9 crore; Q3 FY26 revenue ₹498 crore (+48% YoY), strong margin expansion and profitability growth. |
Geographical revenue split Majority revenue derives from India with emerging international operations through GIFT City and UAE initiatives. |
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Whats driving growth Growing corporate digitization, fintech adoption, strategic acquisitions, AI-led automation, and expansion into global payments and travel spend management. |
Our future plans Expand platform capabilities globally, grow MENA presence via UAE subsidiary, complete acquisitions in loyalty and payments, scale AI-driven automation. |
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Our people and values 325+ employees with focus on innovation, inclusivity, and skill development; robust ESOP scheme aligning employee interests with company growth. |
Key challenges ahead Maintaining market leadership amid competition, scaling technology, regulatory compliance, and managing integration of acquisitions. |
Interesting facts Largest prepaid card issuer in India with over 50 million cards; first to launch AI-driven spend analytics and wearable payment solutions. |
Risks and strategy Risks include fintech regulations and market competition mitigated by diversification across products, strategic partnerships, and continuous innovation. |
