Zaggle acquires Greenedge to boost corporate loyalty and golf-based rewards

Zaggle, a spend management and fintech solutions company, has received board approval to acquire 100% of Greenedge Enterprises, a specialist in loyalty experiences and golf-based corporate rewards. The acquisition involves 1.30 lakh equity shares representing the entire issued and paid-up capital of Greenedge, for a consideration of up to ₹25 crore, subject to the execution of a definitive Share Purchase Agreement.In addition to the acquisition, Zaggle plans to invest up to ₹25 crore in Greenedge, in one or more tranches, following the execution of a Share Subscription Agreement.

Founded in March 2009, Greenedge operates as a B2B solution provider offering golf-related travel, experiences, and access-based rewards. Its offerings are integrated with the RuPay card network, providing corporate clients with unique loyalty and engagement solutions.

Zaggle said the acquisition will enhance its portfolio in loyalty, rewards, and travel segments, complementing and expanding its flagship Propel platform. The integration of Greenedge’s specialised services is expected to provide differentiated value to corporate clients and strengthen Zaggle’s presence in the loyalty and rewards ecosystem.Raj P Narayam, Founder and Executive Chairman of Zaggle, said, “The integration of Greenedge’s specialised loyalty experiences into Zaggle’s ecosystem represents a significant milestone in enhancing our corporate engagement capabilities. Their golf-based rewards and travel solutions will allow us to deliver compelling value propositions to our clients, while accelerating growth in the loyalty and rewards sector.”

Founded in 2011, Zaggle operates in the B2B2C segment, offering spend management solutions, prepaid cards, and financial technology products. The company partners with 16 banks to issue prepaid cards and provides a range of SaaS platforms and loyalty solutions.