Zaggle, a spend management company, has received board approval to acquire 100% stake in Greenedge Enterprises for ₹25 crore. In addition to the acquisition, Zaggle plans to invest up to ₹25 crore in Greenedge, in one or more tranches.
Founded in March 2009, Greenedge specializes in loyalty experiences and rewards, with a unique focus on golf-based corporate engagement. The company operates as a solution provider for golf travel, experiences and access-based rewards. Greenedge’s current business model is B2B, offering exclusive golf-related rewards along with other benefits integrated with the RuPay Card network (NPCI).
Greenedge Enterprises’ online platform Golftripz offers golfing holiday packages. It enables users to search, compare and book personalized golfing holidays and golf courses after providing relevant details.
The acquisition of Greenedge will substantially strengthen Zaggle’s portfolio across loyalty, rewards and travel segments, further complementing and expanding its flagship Propel platform.
Dr Raj P. Narayam, Founder & Executive Chairman, Zaggle, said, “The integration of Greenedge’s specialized loyalty experiences into Zaggle’s ecosystem represents a significant milestone in enhancing our corporate engagement capabilities. Their unique golf-based rewards and travel solutions will allow us to deliver differentiated and compelling value propositions to our clients, while accelerating our growth and presence in the loyalty and rewards sector.”
