Zaggle's Ambitious Growth: Aiming for Billion-Dollar Revenue

Zaggle Prepaid Ocean Services Ltd is planning to acquire at least two companies next year to boost its growth trajectory. Having raised Rs 595 crore through a qualified institutional placement, the company aims for billion-dollar revenue within five to six years. Recent investments highlight its strategic focus on expansion.

New Delhi: Zaggle Prepaid Ocean Services Ltd is gearing up for significant expansion by planning to acquire at least two companies in the next financial year, according to company founder and Executive Chairman Raj Narayanam. This move follows the fin-tech platform's successful Rs 595 crore raise through a qualified institutional placement this week.

The innovative fintech firm is currently evaluating potential acquisition targets within the SaaS FinTech realm, focusing on merchant card software, accounts receivables, and FASTag solutions. With this expansion strategy, Zaggle aims to hit a billion-dollar revenue target within the next five to six years, Narayanam detailed.

Zaggle's strategic growth trajectory was recently underscored by an investment of Rs 48 crore into acquiring stakes in two companies. The firm's revenue from operations surged by 64.22% to Rs 302.5 crore, revealing a three-fold increase in net profit for the September quarter.

(With inputs from agencies.)