Zaggle Prepaid targets revenue growth of 40-50% this fiscal

Zaggle Prepaid Ocean Services is targeting revenue growth of around 40 to 50% for the year, said Avinash Ghodkhindhi, the Managing Director, CEO, and co-promoter of the company.

He expects EBITDA margins at around 11 to 13%.

Zaggle Prepaid Ocean Services is a fintech Software as a Service (SaaS) player that has recently gained a lot of traction in the vendor payments segment.

“Vendor payments are the latest addition, and we are seeing tremendous growth, there is a lot of traction that we are getting on that side because every company has a tonne of payments that they make to vendors,” Ghodkhindhi said.

He said the vendor payments tend to be fairly predictable whereas there is always a seasonality around employee and channel spends.

“Every year we have added about 600-650 customers, and we will continue to grow in line with that or better. We also are focusing a lot on trying to increase our cross-sell and that is a focus area for us in the coming three years,” Ghodkhindhi added.

The company is among a small number of uniquely positioned players with a diversified offering of fintech products and services, having one of the largest numbers of issued prepaid cards in India in partnership with certain of its banking partners, a diversified portfolio of SaaS, including tax and payroll software, and a wide touchpoint reach.

Ghodkhindhi said ZPOSL is placed at the intersection of the SaaS and fintech ecosystems. Its SaaS platform is designed for business spend management (including expense management and vendor management); rewards and incentives management for employees and channel partners; and gift card management for merchants, which it refers to as a customer engagement management system (CEMS).

Zaggle made its stock market debut on September 22 at a price of Rs 164 apiece.

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