Zaggle raises ₹50 crore from Vivriti Asset Management

March 09, 2023 10:45 pm | Updated 10:45 pm IST - MUMBAI

Zaggle Prepaid Ocean Services Ltd., which into spend management, said that Vivriti Asset Management, a fixed-income Alternative Investment Fund (AIF) platform has invested ₹50 crore in its rated maiden debenture issue. 

The investment, made through purchase of debentures via VAM’s performing credit fund, will amortise over the next 40 months, paying interest quarterly.

The proceeds from the investment will be utilised in growing Zaggle’s products such as the newly- introduced accounts payable platform by Zaggle: “Zoyer”. 

Along with utilisation towards the new products, the proceeds of the [debentures] will also be used for working capital and business growth.

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