Shares of Zaggle Prepaid Ocean Services Ltd shot up 6% to hit an intraday high of Rs 372.50 per share on 10 September, following the company’s statement that it had inked a deal with HDFC Ergo General Insurance. 

According to a disclosure filed with the exchange, “Zaggle Prepaid Ocean Services Limited (“Zaggle”) has entered into an agreement with HDFC Ergo General Insurance Company Limited.”

According to the terms of the agreement, the company will provide Zaggile Propel reward platform, which provides channel incentives and recognition.

According to the company, channel partners of HDFC Ergo General Insurance Company Limited are eligible to use the Zaggle Propel reward platform.

However, unless terminated in accordance with the terms specified therein, the agreement will remain in effect until 31 August 2025, it added.

Zaggle Prepaid Ocean Services Limited, established in 2011 and headquartered in Hyderabad, provides automated solutions for company expense control. 

One of the services offered by the organisation is an extensive expense management platform that streamlines operations related to cost management, employee benefits, and corporate gifting.

Zaggle also provides SaaS payroll and tax management solutions and has issued over 50 million co-branded prepaid cards. The company’s software platforms are designed specifically to assist SMEs and startups in making educated decisions and optimising their financial operations.

At 12:19 pm, the shares of Zaggle Prepaid were trading 5.43% higher at Rs 370.55 on NSE. 

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