Zaggle Announces the Acquisition of Hyderabad based Click&pay
by Shrutee K/DNS
Mumbai, 18th July 2018: Zaggle a payments & group dining company announced the acquisition of Hyderabad based Click&pay (a tech start up backed by Dubai based Investors) in a cash-and-stock deal. The acquisition will enable the Zaggle to build a World Class Expense Management Platform and create a unique value proposition for its customers.
Zaggle being an award-winning Payments company with a focus 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 like Employee Perk System, Reward and Recognition Program, Channel Incentive and Online Cashback. Zaggle’s huge 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 Mr. 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.
A fully automated process would save corporates time, resources and money, especially on travel and entertainment spends, which is seen as among the top three controllable expenditures besides salaries and benefits for corporates.
Speaking on the occasion, Mr. Avinash Godkhindi, Chief Executing Officer, Zaggle said, This Strategic acquisition will help Zaggle to continue & 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, Mr. Hanif Shah, Chief Sales Officer, Zaggle said, “This acquisition reflects our commitment to continue growing Zaggle’s investment and presence to serve the expense management market. The acquisition also expands and enhances Zaggle’s extended services offerings. We welcome the Click&Pay team to Zaggle and look forward to working together to deliver even more value to employees, clients and partners.
Speaking on the occasion, Mr. 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+ Zaggle team.
About Zaggle: Zaggle is a payments company which harnesses the power of groups to create value for corporate, consumers and merchants. Zaggle as a company focuses on connecting consumer and corporate spends to merchants through their proprietary tech platforms and its latest offering focused on Group Dining Deals.
About Click & Pay: Hyderabad based Click&pay was founded in 2015 by Kalyan Karteek, Sai Sandeep, Chandra Sekhar, Nagendra, and Dinesh. Click&pay aims to displace payment inefficiencies through efficient, affordable, scalable and real-time electronic solutions for enterprises & consumers. Click&pay Enterprise help businesses to do better in payments part and change the way of many small-medium businesses in making money, spending money and tracking money through invoicing, cash flow management, Automated Payments, Bulk acceptance, and disbursements.
The Click&pay platform currently services more than 750+ merchants spread across the country. Over 250 of these are paying customers.