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Zaggle Prepaid Ocean Services, a spend management company, has announced a strategic investment in Mobileware Technologies. The company has invested Rs 15.60 crore to acquire a 26 per cent ownership stake on a post-issue and fully diluted basis.In addition, Zaggle has also acquired a 12.34 per cent stake, representing a portion of the post-closing issued and paid-up capital of the company, on a fully diluted basis, from the promoters of Mobileware for Rs 7.25 crore.Post this investment and acquisition, Zaggle's total shareholding in Mobileware Technologies now stands at 38.34 per cent on a post-issue and fully diluted basis. Mobileware is a player in India's digital payments ecosystem empowering banks, financial services, NBFCs, and all financial institutions with its extensive suite of products, encompassing NPCI-certified switch solutions, including UPI, IMPS, AEPS, BBPS, and proprietary API banking platform, TransXT, (also known as ‘Bank In A Box’!). The integration with Mobileware has already started to enhance Zaggle’s offerings in to provide cutting-edge embedded payment experiences to its clientele. The strategic move to further increase its stake in the digital payments company reflects Zaggle’s commitment to solidify its position in the SaaS FinTech sector.Speaking about the development, Raj P. Narayanam, Founder and Executive Chairman, Zaggle Prepaid Ocean Services said, “We are excited about this strategic investment, which will enable us to co-develop advanced solutions tailored to our diverse customer base. Mobileware’s proven expertise in building robust payment infrastructures, particularly in UPI and other NPCI-certified solutions, perfectly aligns with our vision of delivering seamless, integrated payment experiences. Zaggle remains committed to enhancing its product portfolio through targeted acquisitions over the next financial year, creating significant value for all our stakeholders.”The move will enable Zaggle to leverage Mobileware’s

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Browse for company aptitude questions & answers with result explanation. Find topics like Verbal or non-Reasoning, Logical Reasoning, Data Interpretation etc.