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The partnership aims to co-create an innovative employee benefits solution with Google, facilitated through Redington, to be offered to Zaggle’s corporate clients.
The primary focus of the partnership is to enhance corporate offerings through the development of a specialised employee benefits solution, with Google, via Redington, Zaggle said in a stock exchange filing.
This strategic initiative is set to create a new avenue for corporate clients to access innovative benefits programmes designed to improve employee satisfaction and well-being.As per the agreement, the partnership will last for five years, with the strategic collaboration being executed within the domestic market.
The project will not involve any related party transactions, and there is no involvement of the promoter group or its affiliates in the awarding entity, as clarified in the disclosure.
The fintech and SaaS provider, backed by ace investor Ashish Kacholia, reported a 29.6% year-on-year surge in net profit at ₹20 crore for three months ended December 2024. The net profit was down 2.47% on a sequential basis.
It reported revenue at ₹336.8 crore, an increase of 69% from ₹199.5 crore. On a sequential basis, revenue increased 11%.Zaggle revised its revenue guidance for the fiscal 2024-25 (FY25), projecting growth between 58% and 63%.
The company aims to double its revenue every two years. For the financial year ending March 2024, Zaggle reported a revenue of ₹775 crore, and based on its current growth trajectory, it expects to achieve double the revenue by FY26, according to Avinash Godkhindi, Co-Promoter, MD and CEO.
Additionally, Zaggle is actively utilising its recently raised capital and is in advanced talks for several acquisitions. The company plans to finalize two to three deals in the coming quarters and is currently evaluating five potential acquisition targets.
Also Watch: Avinash Godkhindi, MD & CEO of Zaggle Prepaiddiscusses the tie-up, potential acquisitions, and the business outlook in an interview with CNBC-TV18.
The acquisitions will focus on SaaS, payments, and merchant card system sectors, aligning with Zaggle’s tech-driven growth strategy, he said.
Shares of Zaggle were trading 3.74% lower at ₹332.95 apiece on the BSE at 10:27 am.
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