Zaggle clocks Rs 250 crore in FY’21

The company that offers financial solutions workflow to businesses has over 200-plus employees in 10-plus cities.

Hyderabad: Hyderabad-based financial technology company Zaggle saw its revenue for the financial year 2020-21 hit Rs 250 crore from Rs 50 crore in last FY. The company’s gross transaction value (GTV) through its platform grew from Rs 3,500 crore in the FY’20 to Rs 14,000 crore closing March 2021.

The company that offers financial solutions workflow to businesses has over 200-plus employees in 10-plus cities and 4,500-plus clients, 10,500 merchants, and 4.5 million users across its platform. The adoption rate for corporates and SMEs opting for their expense management solutions is now 90 per cent as opposed to 60 per cent before the pandemic.

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On the international front, Zaggle commenced operations in Canada last year and will soon be expanding to other geographies in the European region as well. The company is working to launch its SME neo-banking platform early next month.

Zaggle founder Raj N said, “The unprecedented Covid-19 pandemic has brought in a lot of challenges and difficulties, but for companies like us it has been an opportunity to rise and flourish. Our business has grown beyond our expectation and we have been seeing demand for our expense management platform with more and more corporates adopting our SaaS-based platforms.”

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