Zaggle to Acquire Greenedge Enterprises for INR 25 Cr In addition to the acquisition, Zaggle plans to invest up to INR 25 crore in Greenedge in multiple tranches under a proposed share subscription agreement.
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Zaggle, a spend management company, has received board approval to acquire 100 percent of the equity shares of Greenedge Enterprises Private Limited.
The deal involves the purchase of 1,30,000 shares for a consideration of up to INR 25 crore, subject to the execution of a definitive Share Purchase Agreement.
In addition to the acquisition, Zaggle plans to invest up to INR 25 crore in Greenedge in multiple tranches under a proposed share subscription agreement.
Founded in 2009, Greenedge specialises in loyalty experiences and rewards, with a distinct focus on golf-based corporate engagement. The company operates as a solution provider for golf travel, curated experiences and access-driven rewards.
It currently functions in the B2B space, offering exclusive golf-related benefits alongside other integrated rewards in partnership with the RuPay Card network of the National Payments Corporation of India.
The acquisition is expected to strengthen Zaggle's offerings across loyalty, rewards and travel. It also aligns with the company's objective of enhancing its Propel platform by integrating specialised engagement solutions.
Dr Raj P Narayam, Founder and Executive Chairman of Zaggle, said, "The integration of Greenedge's specialised loyalty experiences into Zaggle's ecosystem represents a significant milestone in enhancing our corporate engagement capabilities. Their unique golf-based rewards and travel solutions will allow us to deliver differentiated and compelling value propositions to our clients."
Zaggle, founded in 2011, operates in the B2B2C segment and is among India's leading issuers of prepaid cards. The company claims to have issued more than 50 million prepaid cards in collaboration with 16 banking partners and serves over 3,500 corporate clients across industries such as finance, technology, healthcare, FMCG and infrastructure. Its current user base exceeds 3.3 million as of June 30, 2025.
