In an interview with CNBC-TV18, Avinash Godkhindi, co-promoter, MD and CEO of SaaS fintech company Zaggle Prepaid Ocean Services, shared details about the company's recent foray into the fleet market. On January 17, the company announced the signing of a contract with Torrent Gas for a $200 Crore Closed Loop Card Fleet Royalty Program.
"This is a new space we're entering. Fleet is a huge opportunity globally...it's our first fleet program...this is a program we're running from start to finish, so it's a closed-loop program...there is no banking association involved apart from Escrow," Godkhindi explained.
The size of the fleet market in India is estimated to be around $73,000 crore, Godkhindi said. The company's strategic move into the fleet industry is supported by a comprehensive approach and the entire program is managed internally, he said.
Zaggle is among a small number of players uniquely positioned with a diversified offering of fintech products and services, with one of the largest number of prepaid cards issued in India in association with some of its banking partners, a diversified portfolio of SaaS, including tax and payroll software and a broad reach of touchpoints.
ZPOSL sits at the intersection of the SaaS and fintech ecosystems, and its SaaS platform is designed for business spend management (including spend management and supplier management); management of rewards and incentives for employees and channel partners; and gift card management for merchants, referred to as customer engagement management system (CEMS).
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(Edited by : Shweta Mungre)
