Synopsis
The spend management platform plans to invest up to Rs 25 crore more in Greenedge after a share subscription agreement is executed. Per Zaggle, the acquisition will expand its offerings in loyalty, rewards, and travel segments.
Spend management platform Zaggle has received board approval to acquire 100% of Greenedge Enterprises — representing 130,000 equity shares — in a deal worth up to Rs 25 crore, the company said on Monday.
In addition to the acquisition, Zaggle plans to invest up to Rs 25 crore in the loyalty and rewards solutions provider, in one or more tranches, subject to the execution of a share subscription agreement.
Founded in 2009, Greenedge specialises in loyalty experiences and rewards, with a focus on golf-based corporate engagement. The company provides golf travel, experiences, and access-based rewards, primarily in the business-to-business (B2B) segment, along with other benefits integrated with the RuPay card network.
Zaggle said the acquisition would expand its offerings in loyalty, rewards, and travel segments.
“The integration of Greenedge’s specialised loyalty experiences into Zaggle’s ecosystem represents a significant milestone in enhancing our corporate engagement capabilities,” said Raj P Narayam, founder and executive chairman of Zaggle. He added that Greenedge’s golf-based rewards and travel solutions would help Zaggle deliver differentiated value propositions to clients while accelerating growth in the loyalty and rewards sector.
Zaggle, listed on the Indian stock exchanges in 2023, offers various financial services and products, including prepaid cards and software solutions. As of June 30, 2025, the company had issued over 50 million prepaid cards, serving more than 3,500 corporate clients.
For the quarter ended in June, Zaggle reported a 56.2% year-on-year (YoY) increase in net profit to Rs 26.1 crore, driven by revenue growth across segments and new customer additions.
In July, Zaggle announced it would acquire a 100% stake in fintech startup Rio Money for Rs 22 crore, marking its entry into the consumer credit card space via Unified Payments Interface (UPI).
Source: www.economictimes.indiatimes.com