ZAGGLE IPO

Incorporated in 2011, Zaggle offers diversified bouquet of fintech products and services, having one of the largest number of issued prepaid cards in India with its banking partners (with approx 16% of India’s total prepaid transaction volume), a diversified portfolio of SaaS, including tax and payroll software, and a wide touchpoint reach. They are a leading player in spend management, with more than 50 million prepaid cards issued in partnership with banking partners and more than 2.27 million users served.
They are placed at the intersection of the SaaS and fintech ecosystems, and the SaaS platform is designed for: 

• Business spend management (including expense management and vendor management)
• Rewards and incentives management for employees and channel partners
• Gift card management for merchants, which we refer to as customer engagement management system (CEMS).
  
  India’s fintech ecosystem has grown rapidly and its market revenue is estimated to reach approximately Rs. 8341 billion in Fiscal ‘27 as a result of supporting government policies which have fostered a cashless society and rising investments. India had the highest fintech adoption rate of 87.0% in Fiscal ‘23, compared to other countries. India’s digital payments industry is expected to grow at a CAGR of 22% from ‘23 to ‘27. 
  The overall market for spend management software and services (in-house and outsourced; including procurement management, expense management, and payroll management) is estimated to surpass Rs. 200 billion by Fiscal 2027, with the share of outsourced spend management estimated to be around 60% during that period.