The inventory pared among the positive aspects and was up 1.5% at INR 360.30 on the BSE at 12:45, taking the corporate’s market capitalisation to $544 Mn
The rally got here after Zaggle introduced partnerships with AU Small Finance Financial institution (AU SFB) for co-branded retail bank card, co-branded pay as you go card, and industrial card, and with Mastercard for co-branded home pay as you go playing cards
The corporate’s shares have largely remained in a corrective section this yr, mirroring the Nifty IT index’s 18% year-to-date fall in comparison with a 6% acquire within the Nifty 50
Shares of SaaS fintech firm Zaggle
surged as a lot as 5.2% to INR 373.40 apiece in the course of the early buying and selling hours on the BSE at present.
Nevertheless, the inventory pared among the positive aspects and was up 1.5% at INR 360.30 on the BSE at 12:45. The corporate’s market capitalisation stood at INR 4,837 Cr (about $544 Mn) on the time.
The rally got here after Zaggle introduced partnerships with AU Small Finance Financial institution (AU SFB) for co-branded retail bank card, co-branded pay as you go card, and industrial card, and with Mastercard for co-branded home pay as you go playing cards.
Underneath the partnership with AU SFB, Zaggle will launch co-branded pay as you go playing cards, powered by Zaggle Platform, to automate worker rewards, advantages, bills and reimbursements. It’ll additionally launch co-branded retail bank cards powered by personalised advice engine and TPAP integration and industrial playing cards.
In the meantime, the partnership with Mastercard will assist Zaggle launch and promote co-branded home pay as you go playing cards on the previous’s community.
Zaggle already has a number of banking and card community partnerships with Sure Financial institution, NSDL Funds Financial institution, amongst others, for pay as you go and cobranded card options.
Based in 2011 by Raj Narayanam, Zaggle offers bills, funds, and company worker advantages options to enterprises. It affords a variety of SaaS merchandise, equivalent to Zaggle Save for managing bills and rewards, Zaggle EMS for expense administration, and Zaggle Propel for worker rewards and incentives.
In July this yr, it introduced acquisition of fintech startup Rio.Cash for INR 22 Cr to enter the patron bank card market.
On the monetary entrance, the corporate’s web revenue rose 56% YoY to INR 26.1 Cr in Q1 FY26. Working income zoomed 32% YoY to INR 332 Cr.
Nevertheless, the corporate’s shares have largely remained in a corrective section this yr, mirroring the Nifty IT index’s 18% year-to-date fall in comparison with a 6% acquire within the Nifty 50. Shares of Zaggle shares have delivered a adverse return of about 34% yr up to now. The inventory has declined about 12% over the past month.
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