A fast growing fintech company is making waves again, this time with a significant three-year agreement with Apollo Health and Lifestyle Limited to supply end-to-end employee expense management and benefit solutions. The agreement signals rising demand for its enterprise solutions.
The company in focus is Zaggle Prepaid Ocean Services Limited, which currently has a market capitalization of Rs. 5,631.18 crore. The stock opened today at Rs. 424.90, up from its previous close of Rs. 420.25, reflecting growing investor interest following the announcement.
Zaggle has secured a three-year contract with Apollo Health and Lifestyle Limited, along with its subsidiaries. As part of the agreement, Zaggle will provide Zaggle Zoyer and Zaggle Save, its flagship employee expense management and benefits platforms, respectively, to Apollo and its group companies.
Founded in 2016, Zaggle Prepaid Ocean Services Limited is one of India’s rising fintech players, helping businesses simplify the way they manage employee expenses and benefits.
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Financially, the company has shown exceptional momentum. Net profit nearly doubled, increasing from Rs. 44 crore in March 2024 to Rs. 87 crore in March 2025, a sharp 97.7 percent jump year on year.
Total assets rose from Rs. 696 crore in March 2024 to Rs. 1,308 crore in March 2025, reflecting a growth of nearly 88 percent. Earnings per share (EPS) also improved from Rs. 3.59 to Rs. 6.52, while revenue surged from Rs. 776 crore to Rs. 1,303 crore during the same period.
Backing the fundamentals is a strong investor profile, renowned investor Ashish Kacholia holds a 2.24 percent stake in the company as of March 2025, adding further credibility to its growth narrative.
Zaggle has also seen promoter holding rise by 4.12 percent over the last quarter, a sign of growing internal confidence. The company has delivered an impressive 88 percent CAGR in profit over the past five years and remains almost debt-free. They had previously entered into an agreement with DTDC Express for five years, reflecting the increasing adoption and growing demand for their solutions.
Adding to its credentials, Zaggle was recently recognized as the “Fintech Brand of the Year” at the 5th Edition of the BW Businessworld Fintech Awards 2025, reinforcing its leadership in the digital financial services space.
Written by Manan Gangwar
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