Hyderabad: Hyderabad-based Zaggle, a payments and group dining company has acquired city-based Click&Pay (a tech startup backed by Dubai based Investors) in a cash-and-stock deal. The acquisition will enable the Zaggle to build an expense management platform.
Zaggle focuses on Groups, Employee Benefits, Corporate Expense Management has been continuously working towards strengthening its position in the space. The company connects consumer and corporate spends to merchants through proprietary tech platforms such as employee perk system, reward and recognition programme, channel incentive and online cashback.
Zaggle’s customer base and Click& Pay unique payment proposition will enable customers to consolidate expense management and bring about an efficient mechanism within the organisations.
Speaking on the occasion Raj N Phani, founder & chairman, Zaggle said, “The acquisition of Click&Pay will help Zaggle offer benefits by providing technological solutions and introducing cost benefits across spectrum. The present system of corporate expense management drains out hundreds of millions of dollars per month in terms man hours spent, lost opportunity cost, logistic delays and inability to consider GST inputs. Zaggle understands the pain points and has according launched its Expense management solutions to help customers save cost.”
Speaking on the occasion, Avinash Godkhindi, CEO, Zaggle said, “This Strategic acquisition will help Zaggle to continue and execute the growth strategies and also extend our global leadership in expense management by mainly focusing on the basic local needs of each and every market we serve.”
Speaking on the occasion, Kalyan Karteek, founder, Click&Pay, said, “This partnership, would help create a vibrant corporate ecosystem where millions of corporates get the opportunity of consolidating and centralising all travel, health and entertainment billings that help keep a tab on expenses.”
The deal is in part cash and part stock transfer. Post-acquisition, the Click&Pay team of 25 members would join the 150 plus Zaggle team.