Zaggle Prepaid Ocean Services has entered into a three-year agreement with Daimler India Commercial Vehicles Private Limited (DICV) to provide fleet management solutions, marking a significant expansion in its commercial card business. The deal, executed on July 27, 2026, sees Zaggle deploying its Zatix and Corporate Credit Card programs to manage expenses for DICV’s fleet partners. This partnership strengthens Zaggle’s position in the B2B expense management sector by aligning with a major automotive player.

Deal Structure and Scope

Under the terms of the agreement, Zaggle will onboard DICV’s fleet partners and drivers onto its digital payment platforms. The commercial consideration for the contract is not fixed but is proportional to the number of fleet partners and drivers onboarded, as well as the total spends at authorized DICV touchpoints during the three-year tenure. Consequently, the company stated it is difficult to ascertain the total contract value at this stage.

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Master Circular Ho/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed that the transaction is not related party in nature, and neither the promoters nor group companies hold any interest in DICV.

Strategic Implications

This collaboration allows Zaggle to leverage DICV’s extensive network of commercial vehicle operators. By integrating its Zatix platform—a tool designed for managing fuel and vehicle-related expenses—Zaggle aims to streamline financial operations for a large segment of commercial drivers. The variable revenue model ties Zaggle’s earnings directly to user adoption and transaction volume, incentivizing aggressive onboarding efforts over the three-year period.

zaggle prepaid ocean services has invested ₹7,96,00,640 in Unobanc Private Limited to acquire a 19.9% equity stake, strengthening its position in the cross-border payments and remittances sector. The Board of Directors approved the investment on July 21, 2026, and the transaction was completed on July 23, 2026. This strategic move enhances Zaggle's ability to offer forex financial solutions to corporate and retail customers beyond Indian borders.

Unobanc Private Limited, a wholly owned subsidiary of Hop Financial Solutions Limited, provides technology infrastructure for digital cross-border payments and remittances in India. The entity holds a Fully Fledged Money Changing (FFMC) license and has received in-principal approval from the Reserve Bank of India for an Authorised Dealer Category II license. The company was incorporated on January 24, 2019, and operates solely in India.

The investment was made via cash consideration through a preferential issue of 62,188 equity shares of face value ₹10 each on a private placement basis. This is not a related party transaction, and the promoter, promoter group, or group companies of Zaggle Prepaid Ocean Services Limited have no interest in Unobanc Private Limited.

Financial Performance of Unobanc Private Limited

The target entity has demonstrated consistent growth in turnover over the past three financial years, along with a recovery in EBITDA margins.

Unobanc Private Limited has an issued share capital of ₹25,00,000, divided into 2,50,000 equity shares of ₹10 each. The investment aligns with Zaggle's objective to expand its service offerings in the fintech space.