Other Private Equity/Strategic Investments
B2B fintech SaaS co. Zaggle to acquire 20% stake in digital remittance enabler Unobanc for Rs.8-Cr
Listed Fintech SaaS company Zaggle Prepaid Ocean Services plans to invest INR 7.97 Cr in Bangalore-based Unobanc to acquire a stake of 19.9%. The transaction is expected to be completed within 90 days.Founded in 2018, Unobanc is a wholly owned subsidiary of Hop Financial Solutions and provides technology infrastructure for digital cross-border payments and remittances. The company holds a fully fledged money changer licence and has received in-principle approval from the Reserve Bank of India (RBI) for an authorised dealer Category-II licence.Zaggle intends to use the investment to strengthen its cross-border payments, forex, and remittance business, enabling the firm to offer foreign exchange solutions to corporate and retail customers beyond India.
For FY25, Unobanc had reported about INR 17 Cr in Operating Income and about INR 1 Cr in PAT.
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