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Zaggle's Zoyer Platform Targets 50% Revenue Share, Boosted by Bandhan AMC Deal
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CNBC TV18•28-09-2026, 14:42
Zaggle's Zoyer Platform Targets 50% Revenue Share, Boosted by Bandhan AMC Deal
- •Zaggle expects its Zoyer spend management platform to contribute 45-50% of future revenue, driven by new enterprise clients and expanded software offerings.
- •The partnership with Bandhan AMC aligns with Zaggle's strategy of integrating software with payment solutions, aiming for improved margins and free cash flow positivity within 18-24 months.
- •Zoyer currently accounts for about 45% of gross revenue, with demand growing across procurement, travel and expense (T&E), and accounts payable solutions.
- •AI-related costs, which previously pressured margins, have started to moderate, with operating margins expected to remain stable with potential for slight improvement.
- •Zaggle is implementing initiatives to enhance operational cash flow and is assessing the financial impact of the new merchant discount rate (MDR) framework, effective October 15.
Key Questions Answered
Zaggle Prepaid Ocean Services expects its Zoyer spend management platform to contribute approximately 45% to 50% of its revenue going forward.
Zaggle management expects the company to become free cash flow positive over the next 18 to 24 months.
Dr Raj P Narayanam stated that AI-related costs, which previously pressured margins, have started to moderate, with operating margins expected to remain near current levels with room for some improvement.
