SaaS fintech company Zaggle aims to double its current revenue by FY26, while maintaining profitability on the back of product diversification, strong customer acquisition and market expansion, the company’s founder and executive chairman Raj Narayanam told FE.
In FY24, the company’s revenue from operations rose 40.1% to Rs 775 crore and profits nearly doubled to Rs 44 crore. It also plans to explore international expansion in key markets like North America, APAC, and MENA.
“The robust compliance frameworks established over time have reduced the likelihood of unexpected disruptions, strengthening trust between us and corporate clients,” Narayanam said. Some of the firm’s notable clients include Mumbai Metro One, HDFC Ergo General Insurance, Baroda BNP Paribas Asset Management, Blue Star, Hiranandani Group, Persistent, Tata Steel, Greenply, among others.
In Q2 FY25, the company posted a consolidated net profit of Rs 20.3 crore, as against Rs 7.62 crore in the year-ago period. The revenue from operations for the quarter was Rs 302.5 crore, 64.22 % higher than Rs 184.2 crore a year earlier.
Founded in 2011, Zaggle offers digital solutions for spend management, corporate employee benefits, among others.
The Hyderabad-based company is also actively evaluating acquisition opportunities that align with its business goals in the fintech space, such as NBFCs, payments, and SaaS. These acquisitions are aimed at helping Zaggle bolster Ebitda, diversify its product portfolio, and open access to new markets.
“Our approach combines small tuck-ins with larger investment opportunities,” Narayanam said. He added that the recent acquisition of TaxSpanner has helped the company enhance its capabilities in tax management. “Such strategic moves are designed to drive both organic and inorganic growth,” Narayanam said.