The company was incorporated as ‘Zaggle Prepaid Ocean Services Private Limited’ at Hyderabad as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated June 2, 2011 issued by the Registrar of Companies, Andhra Pradesh at Hyderabad. Subsequently, the company was converted into a public limited company under the Companies Act, 2013, pursuant to a special resolution passed by its Shareholders at the EGM held on August 22, 2022 and consequently, the name of the company was changed to ‘Zaggle Prepaid Ocean Services Limited’ and a fresh certificate of incorporation dated September 13, 2022 was issued by the Registrar of Companies, Telangana at Hyderabad.

Incorporated in 2011, the company operates in a segment where it interacts and interface with it Customers (i.e., businesses) and end Users (i.e., employees) and is among a small number of uniquely positioned players with a diversified offering of fintech products and services, having one of the largest number of issued prepaid cards in India in partnership with certain of its banking partners, a diversified portfolio of SaaS, including tax and payroll software, and a wide touchpoint reach. The company is sector-agnostic, and its network of corporate customers covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where it has relationships with brands such as TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt, MAZDA, PCBL (RP – Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries. It is placed at the intersection of the SaaS and fintech ecosystems, and its SaaS platform is designed for: (i) business spend management (including expense management and vendor management); (ii) rewards and incentives management for employees and channel partners; and (iii) gift card management for merchants, which it refer to as customer engagement management system (CEMS).

Business area of the company

The company’s core product portfolio include: ‘Propel’, a corporate SaaS platform for channel rewards and incentives, employee rewards and recognition; ‘Save’, a SaaS-based platform and a mobile application to offer expense management solution for business spend management facilitating digitised employee reimbursements and tax benefits; ‘CEMS’, a customer engagement management system that enables merchants to comprehensively manage their customer experiences including rewarding merchants through gift card and loyalty benefits; ‘Zaggle Payroll Card’, a prepaid payroll card that allows Customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments; and ‘Zoyer’, an integrated data driven, SaaS based business spend management platform with embedded automated finance capabilities in core invoice to pay workflows.  

Key awards, accreditations and recognitions

• 2019: Certificate of compliance with ‘ISO/IEC 27001:2013’ issued by Certiva Limited.
• 2019: Awarded the “Best Prepaid Card of the year” at Payments and Cards Awards at the 7th Payment and Cards Summit by Kamikaze.
• 2019: Awarded the “Best Prepaid Card Solution” at India Digital Awards by Internet and Mobile Association of India.
• 2021: Awarded the “Best Digital Card” at the BW Businessworld Festival of Fintech Conclave Awards.
• 2021: Awarded the “Best Employee Engagement Program (Multi Industry)” at the Human Excellence Awards 2021.
• 2021: Recognised for “Epitomizing Excellence in the BFSI Industry 2021” at the 50 most trusted BFSI brands awards by Marksmen Daily.
• 2021:  Awarded the “Best Employee Engagement Award in B2B Sector” at the 29th Edition of the World HRD Congress and Awards by Times Ascent.
• 2022: Recognised as the “Most Preferred Workplace 2022” by Marksmen Daily.
• 2022: Recognized by the Telangana Government for building a robust and sustainable SaaS and fintech business.
• 2022: Awarded the “Certificate of Appreciation” at the India Startup Festival 2022 by Sri Sathya Sai Grama Muddenahalli, Bengaluru.
• 2023: Awarded “Best B2B Payment Solution Provider” at the 10th Payments Industry Awards
• 2023: Awarded “Winner” in the “Best Payments Solutions of the Year” category at the BW Businessworld Festival of Fintech Conclave Awards.

Major Events

• 2015: Launched Zaggle app and started focusing on customer loyalty programs.
• 2019: Launched a prepaid card powered by IndusInd Bank Limited.
• 2019: Launched a channel incentive and engagement platform, namely, “PROPEL”.
• 2019: Launched an expense management card platform, namely, “Save”.
• 2020: Partnered with Yes Bank Limited for issuance of cobranded prepaid cards.
• 2021: Partnered with Razorpay, Tata Securities and Fibe, formerly EarlySalary for offering VAS products including for insurance, investing and tax planning, to enhance User experience and maintain Customer/ User retention.
• 2021: Partnered with NSDL Payments Bank Limited for issuance of cobranded prepaid cards.
• 2022: Launched an integrated data-driven business spend management platform with embedded finance capabilities, namely, “Zoyer”.
• 2022: Launched a wearable contactless payment device, in partnership with one of its Preferred Banking Partners, namely, “Zakey”.
• 2023: Partnered with Yes Bank Limited for issuance of cobranded corporate credit cards, integrated with “ZatiX”, an analytics platform.