Zaggle Prepaid Ocean Services is increasing its investment in Mobileware Technologies. The company has announced plans to acquire an additional 16.67% stake, reinforcing its strategic focus on digital payments. The transaction, structured as a cash deal, received board approval and is expected to conclude within 90 days. The company also released its third-quarter report on 07 September 2025, highlighting significant financial growth.
Zaggle’s Acquisition Breakdown
While financial terms remain undisclosed, this acquisition builds on the company’s existing stake in Mobileware Technologies. The fintech firm had previously purchased 26% of Mobileware in September 2024 for INR 15.6 crore. By increasing its shareholding, Zaggle aims to strengthen its digital infrastructure, particularly in lending, credit, and card management.
Mobileware Technologies: Key Player in Digital Payments
Based in Mumbai, Mobileware Technologies provides digital payment solutions across UPI, IMPS, BBPS, and AePS. It also operates TransXT, an API banking platform branded as ‘Bank in a Box,’ serving over 80 banks and 20 fintech firms. Deeper integration with Mobileware’s technology will enable Zaggle to expand its fintech solutions and enhance corporate services.
Growth and Performance
This investment comes amid strong financial growth. Zaggle Q3 FY25 report highlights that the company’s revenue surged 69% year-on-year to INR 336.89 crore. Net profit rose 30% year-on-year to INR 19.74 crore, reflecting strategic expansion. The company has also revised its revenue growth forecast for FY25 to 58-63%, citing increased program fees and Propel platform revenues as key drivers.
Focus on AI and Expansion
The company is investing in AI-driven automation to enhance operational efficiency. Its proprietary chatbot, Razbot, now handles 60% of customer inquiries autonomously. The company plans to extend AI capabilities across its products. Additionally, Zaggle is actively exploring inorganic growth through further acquisitions in the fintech space.
Future Outlook
Zaggle’s stock closed at INR 472.00 on 07 February 2025, reflecting a 75.5% gain over 12 months. Its strategic investments, including the increased stake in Mobileware Technologies, reinforce its position as a leader in India’s fintech sector. By strengthening its digital payments infrastructure, Zaggle is set for long-term growth and market leadership.
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