Advertisement

Updated February 26th, 2024 at 14:25 IST

Zaggle Prepaid Ocean Services soars 17% on heels of key business agreements

Zaggle last week announced strategic partnerships with four prominent entities: Wipro, Benetton India, Nishi Forex and Leisure and Emcure Pharmaceuticals.

Reported by: Business Desk
Zaggle Prepaid Ocean Services
Zaggle Prepaid Ocean Services | Image:Zaggle
Advertisement

Zaggle Prepaid Ocean Services: Hyderabad-based Zaggle Prepaid Ocean Services (ZPOSL) witnessed a remarkable 16.9 per cent surge in its stock price today, hitting a fresh all-time high of Rs 335.40 apiece on the NSE during intraday trade. The sharp uptick follows a series of significant business agreements inked by the company, signaling promising growth prospects in the near term.

The flurry of positive developments began last week when Zaggle announced strategic partnerships with four prominent entities: Wipro, Benetton India, Nishi Forex and Leisure and Emcure Pharmaceuticals. These agreements are poised to unlock new avenues for revenue generation and bolster the Hyderabad-based fintech startup's market presence across diverse sectors.

Advertisement

Zaggle, on February 21, said that it had inked a deal with information technology giant Wipro where Zaggle would provide Wipro Limited with the Zaggle Save proposition, a benefits and expense management platform for a year, according to an exchange filing. Zaggle is also set to roll out its flagship Zaggle Save proposition to Emcure Pharmaceuticals and Benetton India, according to two separate exchange filings.

With Nishi Forex, Zaggle is contracted to be a co-brand partner to carry out activities such as sales and distribution, marketing and campaigning bundled with Zaggle expense management to drive card spending and greater usage of the software, as per an exchange filing by Zaggle.

Advertisement

Established in 2011, Zaggle Prepaid Ocean Services has emerged as a prominent player in the business-to-business-to-customer (B2B2C) segment, offering innovative fintech products and software-as-a-service (SaaS) solutions to corporate clients across various sectors. Its comprehensive SaaS platform encompasses business spend management, rewards and incentives management, and customer engagement management, positioning ZPOSL at the forefront of the SaaS and fintech convergence.

Following its listing on Indian stock exchanges in September 2023, Zaggle's shares have witnessed an impressive ascent, currently trading 116 per cent higher than its issue price of Rs 158. The company's robust performance underscores investor confidence in its growth trajectory and strategic initiatives to capture emerging opportunities in the dynamic fintech landscape.

Advertisement

Published February 26th, 2024 at 14:07 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo