Zaggle Prepaid Ocean Services has entered into a five-year agreement with Crompton Greaves Consumer Electricals for providing Zaggle Save, an employee expense management and benefits software solution. According to the latest disclosure, the agreement was executed on June 10, 2026. The contract value will be determined by the number of active users for respective months and corresponding program fees based on actual user spending over time, making the total consideration variable and linked to usage levels. The agreement, classified as domestic, does not involve any related party transactions, and neither the promoter nor the promoter group of Zaggle has any interest in Crompton Greaves Consumer Electricals Limited.
As reported by Business Standard, Zaggle Prepaid Ocean Services operates as a leading player in spend management with a diversified user base in the business-to-business-to-customer segment. The company holds one of the largest numbers of issued prepaid cards in India through partnerships with banking partners and maintains a diversified portfolio of software as a service (SaaS) products including tax and payroll software with wide touchpoint reach.
According to Business Standard, Zaggle's consolidated net profit surged 30.42% to ₹40.60 crore in Q4 FY26, supported by a 49.94% rise in revenue from operations to ₹671.91 crore compared to Q4 FY25. The company's stock was trading at ₹195.75 on the BSE, declining 0.86% following the announcement.
The latest partnership is expected to help Zaggle expand the adoption of its software-as-a-service (SaaS) offerings among large corporate clients. The company continues to focus on providing digital solutions for employee benefits, expense management and corporate spending programmes. This collaboration represents a significant addition to Zaggle's client portfolio in the consumer electricals sector, positioning the company to serve larger corporate entities with comprehensive digital expense management solutions.
