Zaggle Invests In Unobanc; Shares Slip Over 0.6%

Mumbai July, 21: Zaggle Prepaid Ocean Services has approved an investment of up to ₹7.97 crore in Unobanc Private Limited, a fintech company focused on cross-border payments and remittance infrastructure. The investment, cleared by the company’s board on July 21, will give Zaggle a 19.9% equity stake, subject to the execution of definitive agreements.

Rather than a full acquisition, the deal is a strategic investment aimed at expanding Zaggle’s capabilities in international payments, forex and remittance services. According to the company’s exchange filing, the investment will be made in one or more tranches and is expected to be completed within 90 days.

Unobanc operates in the cross-border payments space and holds a Full-Fledged Money Changer (FFMC) licence. It has also received in-principle approval from the Reserve Bank of India for an Authorised Dealer Category II licence, allowing it to offer a broader suite of forex-related services.

The company reported revenue of ₹17.40 crore in FY25, compared with ₹15.63 crore in FY24 and ₹14.40 crore in FY23. EBITDA improved to ₹1.37 crore in FY25 from ₹0.05 crore a year earlier.

Stock Market Snapshot

Despite the strategic nature of the investment, the market reaction remained subdued.

Zaggle share price was trading at ₹206.50, down 0.62%, as of 2:58 PM IST on July 21.

Investors appeared to focus on the near-term cash outflow rather than the potential long-term benefits. Since the transaction is a minority investment and will be completed over multiple tranches, any financial contribution from Unobanc is likely to emerge gradually.

Why This Deal Matters

Cross-border payments have become an increasingly important opportunity for fintech companies as businesses expand internationally and demand for seamless forex and remittance services rises.

For Zaggle, which has built its business around corporate expense management, prepaid cards and payment solutions, the investment broadens its presence in an adjacent segment. Access to Unobanc’s payments infrastructure and regulatory licences could help Zaggle offer more comprehensive financial services to corporate as well as retail customers dealing with international transactions.

The company said the investment is intended to strengthen its cross-border payments, forex and remittance offerings while enhancing its ability to serve customers beyond India’s borders.

Company Background

Zaggle Prepaid Ocean Services provides spend management, employee benefits, corporate payments and expense management solutions through a SaaS-led platform. The company serves enterprises across sectors by integrating payment products with digital financial management tools.

Conclusion

The investment marks a measured expansion into a fast-growing payments segment rather than a transformational acquisition. While the immediate market response was muted, the transaction signals Zaggle’s intent to deepen its presence in cross-border financial services and diversify its payments ecosystem over the longer term.

Source:

https://www.nseindia.com/get-quote/equity/ZAGGLE/Zaggle-Prepaid-Ocean-Services-Limited

https://nsearchives.nseindia.com/corporate/ZAGGLE_21072026132156_Draft_SE_Intimation.pdf