Zaggle shares have experienced a notable surge on the Bombay Stock Exchange (BSE) following a recent partnership with financial services giant MasterCard. The collaboration propelled Zaggle’s shares to hit the upper circuit limit, jumping by 5% during intraday trading to reach INR 490.65 apiece. The partnership also resulted in a promising opening, with shares starting off 3.5% higher at INR 483.9.
| Table of Contents |
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| Background on Zaggle |
| Details of MasterCard Partnership |
| Financial Performance |
| Recent Acquisitions |
Background on Zaggle
Zaggle is a fintech SaaS startup that specializes in providing spend management solutions for businesses. The company made its market debut in September 2023, attracting attention for its innovative approach to helping organizations manage their financial transactions efficiently.
Details of MasterCard Partnership
The agreement with MasterCard entails the recommendation of Zaggle’s SaaS platform, along with its payment and card products, to corporate customers and other entities within the ecosystem on a referral basis. This strategic partnership aims to leverage MasterCard’s extensive network to boost Zaggle’s customer base and market presence, providing a strong competitive edge.
Financial Performance
In terms of financial results, Zaggle has demonstrated impressive growth. In the September quarter of FY 2024-25, the company reported a remarkable 167.67% increase in consolidated profit after tax, amounting to INR 20.29 Cr. The revenue from operations also hit a substantial INR 302.55 Cr, reflecting the company’s robust operational performance and market acceptance.
Recent Acquisitions
In addition to the partnership with MasterCard, Zaggle has strengthened its position in the market by acquiring two companies, Span Across IT Solutions and Mobileware Technologies. Zaggle secured a majority stake in Span Across IT Solutions and a 26% stake in Mobileware Technologies, which has now been rebranded as ‘86400’. These acquisitions enable Zaggle to diversify its offerings and enter new business segments, particularly in employee-related services.
FAQ
- What is Zaggle? Zaggle is a fintech startup that offers spend management solutions aimed at helping businesses manage their financial tasks more effectively.
- What does the partnership with MasterCard entail? The partnership involves MasterCard endorsing Zaggle’s SaaS platform and products to its corporate customers and other ecosystem entities.
- What were Zaggle’s financial results for the latest quarter? In the September quarter of FY 2024-25, Zaggle reported a 167.67% increase in consolidated profit after tax at INR 20.29 Cr and a revenue of INR 302.55 Cr.
