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 3 years ago    


Technological innovations have given the right amount of impetus for the growth of the financial sector in India. The fin-tech platforms through artificial intelligence and machine learning have been making access to finance and processing transactions for end-users easier. With the pandemic bringing a drastic change in the outlook of the finance industry, pushing it into the digital sphere has witnessed several startups since the last decade. 

Zaggle, founded in 2011 as a Mumbai-based SaaS fintech company, provides two core solutions; expense management and distribution of reward-based products. Identifying the difficulties faced by various business groups due to inefficient, sluggish, and broken baking workflows, Zaggle reinvented the business financial workflow and expense management system. Founder and serial entrepreneur, Raj N envisioned simplifying and automating financial transactions, and creating a global digital banking platform. Bringing in Avinash Godkhindi, the startup began its journey towards establishing its name in this industry. Serving 4500 enterprise-paying customers, 10,000 merchants, and a cumulative 10 million direct customers, Zaggle has cultivated a robust list of over 100,000 SMEs. With a wide array of products offered by the company such as Zaggle Save, Zaggle Propel, Zaggle Edge, and Zaggle Neobank, its newest venture. Turning cash flow positive since 3 years, the company has bagged 100 new contracts over the past year, and on the international front, expanding into Canada has future plans to expand into the European region. Having acquired clients such as Microsoft, Infosys, Unilever, and Nasdaq-listed Indian online travel agency Yatra, and boasting partners such as HSBC, Development Bank of Singapore, ICICI bank, YesBank, IndusInd bank, RuPay and Visa, Zaggle intends to build efficient solutions for SMEs to avail credit faster, easier and transparent. 

Registering their latest neo-banking product, ZikZuk as a separate enterprise, the startup plans to foster the growth of Indian SMEs and provide access to affordable credit.

With a vision to create a sustainable and scalable financial ecosystem around SMEs, ZikZuk classifies companies with a turnover between $1.5-2 million to $100 million as SMEs, and has already launched its credit “founders card”, which is a credit card with a higher credit limit than the traditional cards, purchase discounts, automated bill payments, founder centric rewards and benefits, and AI-generated business reports. According to the founder, “FoundersCard is a great product for SMEs to avail revolving credit. We have seen a massive demand with SMEs, and the country is very credit hungry.” With a curated list of SMEs, the startup aims to reach out to their existing user-base through ZikZuk. Keeping the Zaggle experience in hand, the founders of the latest venture note, “We have seen massive demand from SMEs and would want to continue the momentum to reach out to lakhs of SMEs and empower them to focus on their business. We are building AI/ML driven cash forecasting modules to help SMEs to manage their cash flows and make data driven business decisions”. Setting up ZikZuk as a separate entity, the startup intends for an easier absorption of capital and institutional investment, as well as hiring new talents. 

With the pandemic crashing the markets and businesses, particularly affecting the smaller-scaled businesses due to cash flow challenges, ZikZuk aims to solve this long pressing financial challenge of cash flow management for SMEs through their Business Finance Manager, a platform to address cash flow and credit challenges for SMEs. Apart from evolving product offering, ZikZuk plans to provide a flawless customer experience and establish a secure standing in the market. The fintech sector has seen vigorous investments over the past year, the newly established fintech has disclosed to be in discussions with investors to raise funds. 

Explore the various products offered by the parent company- Zaggle, and find out how to get your own ‘FoundersCard’ and all the benefits of having it, offered by the latest neo-banking platform ZikZuk



I am an avid reader and have a passion for writing. Being a law student coming from a commerce background, I have a flair for learning about the dynamic legal and business fraternity, as well as becoming an entrepreneur myself. Innovation, creativity, and hard work are the sole drivers to growth and is my mantra for life.


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