Zaggle is an award-winning digital payments, cashback and analytics company. They help corporates and individuals enjoy gifts and experiences across multiple channels everyday; in the form of employee rewards and recognition, channel partner incentives, employee benefits, online shopping cash back and restaurant cash back.

Zaggle was founded in 2011 by Phani N. Raj, a serial entrepreneur and seed investor. The word ‘Zaggle’ stands as an antidote to ‘Haggle’. As a founder of the brand merchandising and corporate gifting company eYantra, Raj soon realized that customers were looking for choice and flexibility.

When corporates started approaching Raj for a solution, he decided to tackle it with a platform on which the merchants and consumers could seamlessly interact – and Zaggle was born. Zaggle currently has 1000+ corporate clients, 1500+ merchant relationships, over 6 lakhs gift cards in the market, and over 2,50,000 downloads on the Zaggle App.

In a fresh move the cashback company in order to develop its market stronghold Zaggle has bought Bengaluru-based Pennyful which is an online cashback and coupons company and the deal between Zaggle and Pennyful is a cash-and-stock deal. The deal size was undisclosed.

Pennyful, which competes with the likes of CashKaro, has been offering cashbacks to consumers at about 500 ecommerce sites, including Flipkart, Amazon India and Paytm, which will now be integrated with Zaggle’s 2,500 restaurant merchants.

The Pennyful team of 15 members will join the 115-team at Zaggle, especially to augment the latter’s digital marketing and product technology team, primarily for their consumer-focused business.

Speaking about the development Zaggle founder Phani N Raj mentioned,

“I am extremely pleased to announce that Zaggle is moving towards an omni-channel marketing platform post acquisition of Pennyful. Zaggle, over a period of five years, has built a huge repertoire of B2B clients. The focus is on the B2B2C market of 25+ million, and we want to create more and more value for this set of consumers,”

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