Zaggle Sign Agreement with Tech Mahindra for Spend Management Solution

Zaggle Prepaid Ocean Services Limited has signed an agreement with Tech Mahindra Limited. This partnership is aimed at enhancing financial management using Zaggle’s technology.  

Purpose of the Agreement

Tech Mahindra will use Zaggle’s Spend Management Dashboard, “Zatix”, to track and manage their Corporate & Purchase Card expenditures. These cards are provided in collaboration with SBI Cards.  

Contract Details

• Type of Agreement: Zatix Service Agreement  

• Scope: Domestic contract within India  
• Duration: 1 year  

Company Statement

“Tech Mahindra Limited will be utilising Zaggle’s Spend Management Dashboard ‘Zatix’ for improved visibility on their Corporate & Purchase Card spends, issued in partnership with SBI Cards,” the company said in its exchange filing.

In February 2025, Zaggle Prepaid secured deals with PhysicsWallah, Honasa (Mamaearth), GIFTCL, and Indus Towers, deploying its suite of tools.

About the Company 

Zaggle Prepaid Ocean Services Limited is a FinTech company offering automated expense management through co-branded prepaid cards. 

Zaggle’s key offerings include expense tracking, budgeting and automated workflows, catering to businesses of all sizes, including startups and SMEs. Founded in 2011 and based in Hyderabad, India, it helps businesses streamline spending, rewards and employee benefits under the leadership of CEO Avinash Godkhindi.

Share performance 

As of March 06, 2025, at 10:40 AM, with a market capitalisation of ₹50.78B, the shares of Zaggle are trading at ₹378.35 per share, reflecting a surge of 5% from the previous day’s closing price. 

Over the past month, the stock has registered a loss of 22.21% and over the last year, it has decreased by 30.60%. The stock’s 52-week high stands at ₹591.90 per share, while its 52-week low is ₹234.50 per share.

Conclusion 

This partnership reflects Zaggle’s growing influence in financial technology solutions, providing businesses with better expense management tools. The use of “Zatix” by Tech Mahindra highlights the platform’s effectiveness and reliability in handling corporate finances.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.