Zaggle Prepaid Ocean Services, a Hyderabad-based B2B SaaS fintech firm, has inked a significant deal with Hero MotoCorp to provide its employees with the advanced expenses management and benefits platform, Zaggle Save.
Raj Narayanam, Founder and Executive Chairman of Zaggle, expressed confidence in the company’s growth trajectory, emphasizing plans for further revenue expansion through organic growth and strategic technology investments. Zaggle aims to bolster its market presence and augment AI capabilities to meet growing demand for sophisticated spend management solutions.
The agreement underscores Zaggle’s commitment to enhancing efficiency and transparency in managing employee expenses within Hero MotoCorp. Zaggle Save is tailored to streamline expense management processes, offering robust solutions designed to optimize operational efficiencies.
Financially, Zaggle Prepaid Ocean Services has demonstrated strong performance, reporting a 46.3% year-on-year increase in revenue from operations to Rs 273.37 crore for the quarter ending March 31, 2024. The company’s profit after tax (PAT) more than doubled to Rs 19.16 crore in Q4FY24, with annual revenue growth reaching 40% for FY24 and PAT surging by 92%.
The partnership with Hero MotoCorp marks a pivotal step for Zaggle Prepaid Ocean Services in its mission to innovate and serve corporate clients with cutting-edge financial technologies.