We are discussing Fintech Startup Zaggle to Collaborate with Hero MotoCorp to help Optimize its Employee Benefits and Expenses:
Zaggle is a fintech SaaS startup that joins with Hero MotoCorp to offer its employees expenses and optimize management. The startup mentioned in its filing that the Zaggle Save platform was developed to streamline and optimize the management of staff expenses and employee benefits. This platform will enable the startup to provide transparency and enhance efficiency inside the organization.
The platform, Zaggle Save, provides all services, including food cards, travel vouchers, and gift cards in one single place. The collaboration helps Hero MotoCorp save taxes and offer a flexible employee benefit approach. The arrangement was validated on July 4th and will be valid till the termination of the agreement contract with the terms mutually agreed by both parties. The fintech startup specializes in the enterprise tech sector and offers management solutions to help startups and small and medium enterprises manage and scale their business expenses. The partnership came just after Zaggle announced a 153 percent increase in PAT to Rs 19.2 crore for its Q4 results in May.
Zaggle is a business expenses management company that streamlines workflows like expenses management. The company aims to develop financial solutions and products to help automate and empower small businesses with increased accuracy, efficiency, and productivity to help India complete its digital economy goal. The fintech startup plans to reach and grow in the market. Last month, Hero Motocorp invested $15 million in EV startup Ather Energy. The Kredible mentioned that this investment made Hero MotoCorp the largest stakeholder of Ather Energy.
The company intends to invest in startups to solidify its market presence while reaching more people across India. The startup also reported a 46.3 percent increase in its revenue. The major source of income for the company comes from program fees, the SaaS subscription model, and its employee rewards solution platform, Propel. Zaggle secured over 620 new corporates in its client base this year, including Wipro, Emcure Pharmaceuticals, and Bennett Coleman. The startup works with bank partners, including ICICI Bank, SBI, Axis Bank, and Kotak Mahindra Bank.
Conclusion
Zaggle, a fintech startup, partnered with Hero Motocorp to optimize workflow and offer its staff expenses. The Zaggle Save platform was developed to optimize the management of staff expenses and employee benefits. This platform will enable the firm to be transparent and efficient. The collaboration helps MotoCorp save tax and create a flexible employee benefit plan. The arrangement was validated on July 4th and will be valid till the termination of the agreement contract with the terms mutually agreed by both parties.
Zaggle is a business expenses management platform that optimizes workflows such as expense management. The SaaS startup aims to develop financial solutions and products to help automate and empower small businesses with increased efficiency, productivity, and accuracy. Zaggle’s website shows the firm has over 2.2 million users globally, with 6 offices across India. The firm has more than 250 employees and two network partners.
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