Zaggle Prepaid Ocean Services Limited

Zaggle Prepaid Ocean Services Limited is a business-to-business-to-consumer (B2B2C) financial technology company founded in 2011 and headquartered in Hyderabad, Telangana. The company builds software-as-a-service platforms that help organizations automate and manage corporate spending, employee expense workflows, and prepaid card programs, working in partnership with banks to issue prepaid cards to end users. The company's product suite spans several areas of corporate spend management, including tools for travel and expense automation, vendor and accounts payable workflows, sales incentive and rewards programs, and a payroll card offering. By fiscal year 2023, Zaggle had issued a large base of prepaid cards through its banking partnerships, served millions of end users, and worked with well over a thousand corporate customers through a network of offices across India. Zaggle positions itself in the growing digital corporate spend management and fintech SaaS space in India, where demand for automated expense tracking, compliance, and prepaid-card-based disbursal solutions has been expanding alongside broader digitization of business finance functions. Its growth has been driven by deepening penetration within existing corporate accounts and expansion of its banking partner network.

Ahead of the public issue, the company raised approximately Rs 253.52 crore from anchor investors, who were allotted shares at the IPO price of Rs 164 per share.