Zaggle
“Can a publicly listed Indian SaaS-fintech own the corporate spend stack — cards, expenses, P2P, and recurring payments — by stitching together regulated bank partners under one platform?”
Founded2011
HQHyderabad, India
Latest roundIPO (2023, NSE/BSE)
IndustryFintech / Spend Management
The story
Zaggle began as a corporate spend, employee benefits and prepaid card platform in India, partnering with regulated banks (YES Bank, NSDL Payments Bank) and PPI issuers (Zokudo) to issue cards. It expanded into SME neo-banking via group company ZikZuk (2021) and into embedded consumer/employee lending via CASHe (2022). Following its 2023 IPO, Zaggle has positioned itself as an end-to-end spend management SaaS-fintech with cards, T&E, procure-to-pay, and recurring expense modules.
Last 12 months
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Product timeline
2021
Group company ZikZuk launched neo-banking initiative with Founders Card for SMEs· banking
2022
Partnered with CASHe to embed lending (personal loans, credit line, BNPL) for users· lending
2023
Listed on Indian stock exchanges (IPO)· ipo
The stack
Payments / PSP
Zaggle Prepaid Cards (self-operated)Zaggle Corporate Credit Cards (self-operated)Zaggle Forex Cards (self-operated)
Banking / BaaS
Card issuing
Lending
CASHeCASHe-powered personal loans (Rs 1,000–3,00,000)Credit lineBNPLZikZuk Founders Card (SME credit card)
Sponsor bank
Accounting
Accounting gap: minor