Latest news with #Zaggle
Entrepreneur
2 days ago
- Business
- Entrepreneur
Zaggle to Acquire Dice Enterprises for INR 123 Cr
Zaggle said the deal aligns with its strategy to expand product offerings and strengthen its presence in India's fast-growing expense management sector. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Zaggle Prepaid Ocean Services Ltd, a listed financial technology firm based in Mumbai, announced that it will acquire Dice Enterprises Private Limited for INR 123 crore. The acquisition, disclosed via a regulatory filing to Indian stock exchanges, gives Zaggle full ownership of Dice, a spend management platform specialising in corporate travel expense tracking, procurement, and accounts payable. Zaggle said the deal aligns with its strategy to expand product offerings and strengthen its presence in India's fast-growing expense management sector. The move also provides access to Dice's established customer base and a team of technically skilled professionals, which the company believes will enhance future product development. "The acquisition expands our product offerings for our customers and gives us access to a large base of existing customers," Zaggle stated in its filing. The company also emphasized the value of integrating Dice's talent pool to bolster innovation. Founded in January 2018, Dice Enterprises has shown consistent growth. Its revenue rose from INR 1.39 crore in FY22 to INR 6.32 crore in FY24, reflecting increasing demand for digital expense management tools. Zaggle signed a non-binding term sheet on June 5, 2025, with Dice's shareholders. The mode of payment—cash or share swap—will be determined by Zaggle's board. The deal is subject to definitive agreements and certain customary conditions but does not require any regulatory approvals. The company expects to complete the acquisition within 90 days of board clearance. The announcement follows a strong financial performance by Zaggle in Q4 FY25. The company reported a 67% surge in net profit to INR 32 crore, up from INR 19.2 crore a year earlier. Operating revenue rose 50% year-on-year to INR 411.4 crore. For the full year, Zaggle achieved record financials with revenue climbing 68% to INR 1,302.6 crore and net profit nearly doubling to INR 87.5 crore. With the Dice acquisition, Zaggle aims to consolidate its leadership in the domestic market while exploring international opportunities.
Business Upturn
3 days ago
- Business
- Business Upturn
Zaggle announces Rs 27 crore acquisition of Greenedge Enterprises
By Aditya Bhagchandani Published on June 5, 2025, 18:42 IST Zaggle Prepaid Ocean Services has announced its plan to acquire 100% shareholding in Greenedge Enterprises Private Limited for a total consideration of Rs 27 crore. The acquisition was disclosed through an exchange filing dated June 5, 2025, under Regulation 30 of SEBI's LODR regulations. Greenedge Enterprises, incorporated on March 9, 2009, operates in the niche space of golf-based loyalty, rewards, and travel experiences. The company reported a turnover of Rs 19.82 crore for FY24, up from Rs 13.67 crore in FY23 and Rs 7.28 crore in FY22. It has a paid-up capital of Rs 13 lakh and operates solely within India. Zaggle has signed a non-binding term sheet, with the acquisition expected to be completed within 90 days, subject to execution of definitive agreements and fulfillment of identified conditions. The mode of consideration—cash or share swap—will be decided by the board at a later stage. The move aims to enhance Zaggle's offerings in the loyalty and rewards segment, aligning with its broader Propel product suite. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
3 days ago
- Business
- Business Upturn
Zaggle to acquire Dice Enterprises for Rs 123 crore to expand spend management offerings
By Aditya Bhagchandani Published on June 5, 2025, 13:58 IST Zaggle Prepaid Ocean Services has signed a non-binding term sheet to acquire 100% equity and voting rights in Dice Enterprises Private Limited for Rs. 123 crore. The deal, disclosed in a regulatory filing dated June 5, 2025, will be formalized through definitive agreements and is expected to be completed within 90 days from board approval. Dice Enterprises, founded in 2018, is a spend management platform offering travel and expense solutions, accounts payable management, and procurement tools. With a revenue of Rs. 6.32 crore in FY24, Dice has seen strong growth from Rs. 1.39 crore in FY22 and Rs. 3.87 crore in FY23. The company operates only in India. Zaggle stated that the acquisition would enable it to expand its product portfolio and customer base, and offer combined solutions to strengthen its domestic and global presence. The deal does not involve any related party transaction and the mode of payment—cash or share swap—will be determined later by the board. The acquisition also gives Zaggle access to Dice's technically skilled workforce, aiding future product development and innovation. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
19-05-2025
- Business
- Business Upturn
Zaggle signs three-year contract with White Oak Investment for employee expense and benefits solutions
By Aditya Bhagchandani Published on May 19, 2025, 19:00 IST Zaggle Prepaid Ocean Services Limited has announced that it has entered into a significant agreement with White Oak Investment Management Private Limited. As per the regulatory filing on May 19, the partnership will span a duration of three years and involves Zaggle providing White Oak with its proprietary platforms—Zaggle Save and Zaggle Zoyer. The services to be provided include employee expense management and employee benefits solutions, aimed at streamlining and enhancing White Oak's internal financial operations and HR processes. According to the company, this is a domestic contract and not categorized under related-party transactions. Zaggle confirmed that there is no promoter or group company interest in the awarding entity, and the deal has been executed independently. This deal reinforces Zaggle's position in the B2B SaaS fintech segment, as it continues to expand its footprint in corporate partnerships across India. The company has not disclosed the financial size of the agreement but emphasized the strategic value of onboarding White Oak as a client. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hans India
15-05-2025
- Business
- Hans India
Zaggle X Mesh Payments : Announce Strategic Partnership to Power Global Spend Management
Zaggle, India's leading Spend Management platform, has advanced its global footprint by partnering with Mesh Payments , a top provider of AI-driven Travel and Expense (T&E) solutions. The partnership marks a significant milestone for both companies as they unite to streamline global and local spend operations for cross-border businesses. Zaggle's partnership with Mesh enables Indian MNC's to manage global expenses seamlessly across the U.S, Europe, and LATAM using Mesh's capabilities to issue corporate cards in global markets, while Mesh's global clients operating in India, through their GCCs, can leverage Zaggle's vast Spend Management ecosystem spanning Corporate Credit Cards, Prepaid Cards, Forex cards and Travel Solutions. As per a recent Deloitte report, top 100 companies in India spend more than $2.2 billion on business travel. This is a significant cost that companies incur on their balance sheets and therefore they are looking for solutions that help them in optimizing employee experiences while rationalizing the cost. Zaggle together with Mesh aims to address this through their solution s that helps in driving cost efficiency for the corporates. As finance teams navigate international growth and increasing complexity, the Mesh–Zaggle partnership offers a trusted, high-value solution designed to support global ambitions with local precision. Together, they empower finance teams with enhanced control, visibility, and efficiency — across currencies and continents. Commenting on the partnership, Dr. Raj P Narayanam, Founder and Executive Chairman, Zaggle, said, 'Our partnership with Mesh is a strategic move to extend our leadership beyond borders, empowering our customers to navigate global markets with robust, integrated global corporate card capabilities to augment our best in class spend management software. As Indian companies scale, Zaggle is proud to be the enabler that ensures their growth is both efficient and well-governed.' Avinash Godkhindi, MD & CEO , Zaggle added 'India's digital transformation is creating unprecedented demand for intelligent spend solutions, and we are uniquely positioned to meet that need. This collaboration has empowered us to expand our reach and provide Mesh's global customers a seamless footprint in India by leveraging our Integrated Spend Solutions, deep understanding of Indian businesses and navigating India's unique regulatory landscape. Together, we aim to redefine how businesses control and optimize their spending across borders.'
