Analyst Initiates Coverage on Zaggle Prepaid Ocean Services with Buy Rating and ₹520 Target
Zaggle Prepaid Ocean Services, a home-grown SaaS-fintech platform, has evolved from corporate gifting to a comprehensive enterprise spend management solution. Its products—Save, Propel, and Zoyer—enable businesses to automate and track expenditures, with newer offerings adding analytics and international payment capabilities.
The company's asset-light model and strong bank partnerships have driven the issuance of over 50 million prepaid cards across 3,550 corporates, with 3.3 million active users. Revenue streams include SaaS subscriptions, interchange fees, and merchant commissions, supported by high customer retention and cross-selling opportunities.
Analysts project a September 2026 target price of ₹520, valuing Zaggle at 30x September 2027 earnings. The bullish outlook reflects India's accelerating shift toward formalized digital business spending.
