Zaggle Prepaid Ocean Services plans to invest up to ₹7.97 crore in Unobanc Pvt Ltd to acquire a 20% stake, according to an exchange filing. The investment will be made in one or more tranches through cash consideration and is expected to complete within 90 days, subject to definitive agreements. Unobanc provides technology infrastructure for digital cross-border payments and remittances in India.
Founded in 2019, Unobanc is a wholly owned subsidiary of Hop Financial Solutions and holds a money changer licence. It has received in-principle approval from the Reserve Bank of India for an authorised dealer Category-II licence, allowing it to offer fully digital cross-border payments, remittances, and foreign exchange services. Zaggle said the investment will enhance its cross-border payments, forex, and remittances business and expand foreign exchange solutions for corporate and retail customers beyond India.
Unobanc reported a turnover of ₹17.4 crore in FY25, up from ₹15.63 crore in FY24 and ₹14.4 crore in FY23. Its EBITDA improved to ₹1.37 crore in FY25 from ₹0.05 crore the previous fiscal year. The investment follows Zaggle's strong Q4 FY26 performance, with consolidated net profit rising 30.4% year-on-year to ₹40.6 crore and revenue from operations jumping 49.9% to ₹617.9 crore in the March quarter.
The acquisition is expected to close within 90 days, subject to execution of definitive agreements, according to the filing. Zaggle’s consolidated net profit for Q4 FY26 stood at ₹40.6 crore, marking a 30.4% increase from the previous year, underscoring the company’s financial strength ahead of the deal.