A payments and group dining company Zaggle has acquired Payment app Click & Pay in a cash-and-stock deal.
With this acquisition, Zaggle will develop an expense management platform that would help create a vibrant corporate ecosystem where millions of corporates get the opportunity of consolidating and centralizing all travel, health and billings for other expenses and help keep a tab on the same.
The present system of corporate expense management drains out hundreds of millions of dollars per month in terms of man-hours spent, lost opportunity costs, logistic delays and inability to consider GST inputs.
The platform Zaggle allows users to make payments by helping them find the best offers in their locality and provides cashbacks on successful transactions.
Besides, merchants can use Click & Pay’s solutions to increase profit margins by identifying the spending patterns of customers, analyze their buying behavior and transactions, and stimulate spending.
Hyderabad based Click & Pay was backed by a Dubai based investor.