Phani Raj N

Zaggle Acquires Dice Enterprises for ₹123 Cr to Strengthen Merchant SaaS Offerings

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Phani Raj N

Zaggle Acquires Dice Enterprises for ₹123 Cr to Strengthen Merchant SaaS Offerings

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In a move that reinforces its position in the B2B fintech space, Hyderabad-based Zaggle has signed a definitive agreement to acquire Dice Enterprise Pvt Ltd, a Mumbai-headquartered spend management startup, for ₹123 crore in an all-cash deal. This strategic acquisition comes as part of Zaggle’s mission to expand and streamline its corporate SaaS offerings.

Founded in 2011, Zaggle is no stranger to scaling bold fintech solutions. With products spanning expense automation, rewards and recognition, and corporate cards, the company has rapidly grown into one of India’s notable SaaS fintech platforms. The acquisition of Dice, known for its cloud-native spend management solutions, will help Zaggle deepen its capabilities in automated procurement, invoice management, and real-time expense control.

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This is not Zaggle’s first big move. Readers of Start-Up Hyderabad may recall our earlier coverage of Zaggle’s successful IPO listing, and its expansion into the corporate card ecosystem. With this acquisition, Zaggle is further solidifying its playbook to own the end-to-end spend lifecycle for mid to large-sized enterprises.

According to regulatory filings, Dice Enterprise clocked ₹2.4 crore in revenue in FY23 with profits of around ₹12.6 lakh. While modest in size, Dice brings a product stack and clientele that neatly complement Zaggle’s roadmap.

The integration will focus on unlocking synergies across product development, customer retention, and cross-selling opportunities. Zaggle plans to onboard Dice’s existing clients onto its unified spend platform, giving them access to advanced features like AI-powered analytics, workflow automation, and multi-layer approval systems.

This move also underscores a broader trend: the rise of full-stack spend platforms in India’s enterprise tech market. As CFOs look for tighter control, real-time visibility, and automation of company spending, platforms like Zaggle are stepping up to serve that demand.

With this deal, Zaggle signals its intent to not just automate expense reports—but to be the default spend OS for Indian enterprises.

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Saritha Keshamoni

Foodie, Hyderabadi, Music lover,Designer by Interest, s/w Engineer by Profession, Entrepreneur in Making, Cricket buff, Telanganite