Recent Management Commentary and Con-call Highlights (4 Con-calls since IPO)
Raj Narayanam, Executive Chairman, Earnings Conference Call:
“FinTech’s are at an inflection point where there is a perfect concoction brewing between increasing digital adoption, ever-improving digital infrastructure, and proactive regulations to create a lasting and sustainable ecosystem. This trend will further drive growth and value for the fintech sector.”
“There is a remarkable jump in terms of the fees what we can charge the corporates now per user, per platform basis than what it was before. We intend to capitalize on this opportunity and capture a significant market share in the coming two years. “
“Zaggle has always partnered with and worked with very large banks to make sure that we maintain the highest level of regulatory and compliance standards”
Avinash Godkhindi, Managing Director, and CEO, Earnings Conference Call:
“Innovation remains at the core of our strategy. We continuously invest in research and development to introduce new products and use cases that meet the ever-changing demand of our customers. Innovation is a driving force behind our competitiveness.”
“Consistent demand for digitization, transparency, tracking and budgeting of spends gave birth to most of Zaggle’ s products”
“We are set to drive growth by both acquiring new customers and cross-selling to the existing ones. This year, we are putting a special emphasis on cross-selling of our products as well as of our partners in the space of insurance, loans, taxation, investments, etcetera.”
Strategic Investment in Span Across IT Solutions & Inorganic Expansion Opportunities:
“We have made a strategic investment in a company called Span Across IT Solutions Private Limited. Span Across offers digital products for online tax filing and financial wellness solutions. This is a strategic investment, it’s a product decorative investment and access to Span’s product, which would be integrated with our offerings. Thus, increasing the value proposition for our customers.”
“We are actively looking at opportunities for inorganic expansion. We are looking at companies which are EBITDA accretive or product accretive or the ones who will give us access to new geographies. We are in active discussions with a few players across different, but synergistic domains like API banking platform, payments and possibly NBFCs. The revenues from these acquisitions would be in addition to our organic revenue growth which we have already mentioned that we would like to grow so that we double our revenues in the next 2 years.”
Strategic Role of Zoyer Platform:
“Zoyer, our accounts payable platform, which is bundled with our business credit cards, played a pivotal role in this year’s performance. Launched just over a year ago, Zoyer is strategically positioned to help us garner a significant market share in the account payable platform space. Our strategy is to onboard corporate clients and their network of employees, channel partners and vendors who become the ultimate users of our solutions. This helps us to keep our CAC to a minimum.”
Strategic Roadmap
“Client-wise revenue concentration is limited with the top 20 customers contributing less than 20% of the revenues”
“Additionally, only 20% of the corporates currently use both Propel and Save while Zoyer is a newly launched product. This abodes us a huge opportunity to cross-sell our products to our existing customers”
“We are augmenting our current expense management platform to offer much more flexibility for corporates to do self-booking on our platform. What this means is that a lot more spends would flow through our platform.”
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