Award-Winning FinTech Start-Up Zaggle Enters The Neo-Banking Space Through Its Group company, ZikZuk - GADGET-INNOVATIONS

Award-Winning FinTech Start-Up Zaggle Enters The Neo-Banking Space Through Its Group company, ZikZuk

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- Launches innovative offerings such as the Founders Card targeting a revenue of Rs250cr in the first year

- The Company is looking to reach out to One Lakh SMEs in the next 2- 3 years


Zaggle, a leading FinTech company, has announced its entry into the neo-banking space today. The company has launched the neo-banking initiative through its group company, ZikZuk with the objective of addressing major challenges faced by SMEs. The first product that is being launched is the Founders Card – a credit card for SME owners under its group company ZikZuk. The company is aiming to clock in a revenue of Rs. 250 cr in the first one year of business. 

As a part of its growth strategy, the company aims to reach out to one lakh SME’s in the next 2 – 3 years. ZikZuk learnt about the challenges faced by Founders to access credit, to meet their business expenses and also manage their working capital. Hence, it will be focused on making easy and timely availability of credit to the SME segment to address their financing and liquidity issues.

The three primary products that will be a part of this initiative to start with include


o   Founders Card – South Asia’s first business infinite credit card curated for the needs of the SME owners and Founders that takes care of their business expenses and credit requirements.


o   Business Finance Manager  It’s a financial operating system that manages the entire business finance for SMEs including AR/AP management, cash flow management, working capital management, Inventory management etc. and suggests best possible options available to foster growth of the business.


o   Multibank Account Aggregation – Aggregate current and savings accounts of SMEs on one platform to:



§  Check Account Balance

§  Make Fund Transfer (NEFT, IMPS, RTGS)

§  View & Download Account Statements

§  View Recent transactions

§  View Categorization/Segmentation of transactions



Companies today use multiple payment instruments for running their business (Credit, Prepaid, Forex). There is no single platform where all these expenses and disbursements can be seamlessly tracked. The Founders Card is a Single payment instrument which can be used to optimize working capital and digitally manage all the expenses of a SME/Startup.

The base for lending will be the cashflows of SMEs and the offering will be complementing existing systems.


SME owners and founders are always busy in growing their sales and business and want to know the entire financial status of their company and manage cash flows as it’s a critical component for the SME business. Our Business Finance Manager acts as a financial command center for SMEs to manage their business through our platform.

ZikZuk’s multibank account aggregation module will help SME owners and finance teams to use the platform to access multiple bank accounts and perform banking transactions instead of hopping to multiple bank portals.


The parent company (Zaggle) currently works with three banking partners including Yes Bank, RBL Bank and IndusInd Bank and intends to sign up multiple partners for its neo-banking initiative. ZikZuk is looking at cash-flow-based lending and will have strong risk assessment methods and processes in place.


The gross transaction value that the company targets through the Founder Card is around Rs 250 crore in the first year and expects to reach millions in the coming years since it’s Software and Credit Products. The company is looking at reaching out to One Lakh SMEs in the next 2- 3 years.

Zaggle has been funded by eYantra, Ventureast and Argonaut Ventures. Zaggle has been growing exponentially and has grown multi-folds compared to last year. The company turned profitable with 14X growth in Profits in FY 2021.

Mumbai, May 19, 2021