Zaggle acquires Click&Pay
The acquisition will help Zaggle to build a World Class Expense Management Platform
Hyderabad, 17th July 2018: Zaggle a payments & group dining company today 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 builda 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 mechanismwithin 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 solutionsand 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. AvinashGodkhindi, Chief Executing Officer, Zagglesaid, 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.