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Zaggle acquires a 51% stake in Effiasoft to strengthen its fintech capabilities.
News
01 April 2025
1 min read
19607
Zaggle Prepaid Ocean Services Ltd, a leading fintech SaaS company, has announced the acquisition of a 51% controlling stake in Hyderabad-based billing software provider EffiaSoft Private Ltd for over ₹41 crore. The board approved the purchase of a 45.33% stake for ₹36.72 crore, with plans to acquire an additional 5.67% for ₹4.59 crore, pending a decision on the mode of acquisition.
EffiaSoft, founded by BITS Pilani alumni, specializes in enterprise software solutions, including point-of-sale (POS) systems and inventory management tools. The company has a network of over 300 merchant partners and recorded revenues of approximately ₹19 crore in FY24, with projections of ₹27 crore for the current fiscal year.
This strategic move aligns with Zaggle's goal to enhance its fintech ecosystem by integrating EffiaSoft's technology, aiming to accelerate product development, improve payment processing capabilities, and drive digital transformation in the fintech sector.
The acquisition is expected to be completed within 90 days, pending regulatory approvals.
Sources: News
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