Zaggle Prepaid Ocean Services Limited (Zaggle) has officially entered into a strategic agreement with The Federal Bank Limited to provide its specialized employee expense management and benefits platform. This domestic contract is scheduled for a duration of three years, marking a significant addition to the company’s growing portfolio of enterprise clients.

Under the terms of this agreement, Zaggle will deploy its “Zaggle Save” platform to manage employee expenses and benefits for Federal Bank. This solution is designed to digitize and automate reimbursements and tax-saving benefits, streamlining financial workflows for the bank’s workforce. The contract is a purely commercial arrangement, with no interest from promoters or group companies, and does not fall under related party transactions.

Founded in 2011, Zaggle Prepaid Ocean Services is a leading B2B2C fintech SaaS platform specializing in business spend management. The company offers a diverse suite of products including “Propel” for rewards, “Zoyer” for accounts payable automation, and “ZatiX” for spend analytics. In recent 2025 updates, Zaggle secured a major Rs 9.84 crore contract from the General Insurance Corporation of India (GIC) and expanded its fintech footprint by investing Rs 50 crore in Rivpe Tech.

In the last quarterly financial results announced for Q3 FY2026, Zaggle reported a robust revenue from operations of Rs 497.63 Crore, representing a 48% growth compared to Rs 336.44 Crore in Q3 FY2025. The Profit After Tax (PAT) surged by 78% to reach Rs 35.97 Crore, up from Rs 20.24 Crore in the corresponding quarter of the previous year. Notable institutional investors in the company include the Bank of India Large & Mid Cap Fund and ACM Global Fund VCC.