10th July 2024 Mumbai, Maharashtra, India Raj N., Founder and Executive Chairman, Zaggle Prepaid Ocean Services Limited has been honored with the prestigious “Fintech Leader of the Year” award at the BW Festival of Fintech Conclave & Awards 2024. This accolade recognizes his exceptional leadership, innovative strategies, and significant contributions to the fintech industry.
A serial entrepreneur, Raj is known for his vision and dedication for continuous innovation and improvement. His strategy centers around a culture of creativity, experimentation, and learning within the organization. This helps drive sustainable growth and ensures the development of new ideas and solutions. “Continuous innovation and improvement are crucial for staying ahead of the curve and achieving sustainable growth,” said Raj N.
A key element of his approach is collaboration and integration across different business functions and departments. By working closely with cross-functional teams, including technology, marketing, finance, and legal, he brought in alignment and coordination in executing multiple business initiatives. This collaborative approach has streamlined processes, minimized duplication of efforts, and accelerated the time-to-market for new fintech products and services.
Raj highlights the importance of agility in strategy, constantly monitoring the market, gathering feedback, and being prepared to pivot when necessary. “Strategy is a dynamic process that evolves to meet new challenges and opportunities,” he further added.
Under his able leadership, several key initiatives have been successfully implemented, yielding impressive results. For instance, the introduction of a new product line, Zaggle Zoyer, resulted in a 32% increase in overall revenue. He was instrumental in forming strategic partnerships with industry leaders such as RazorpayX and multiple banks leading to a 25% increase in market penetration and a 20% growth in revenue from partnership initiatives.
Zaggle, under his leadership, was listed on both BSE and NSE in September 2023 and has since demonstrated phenomenal results. It remains one of the few profitable fintech companies, with the last 17 quarters being profitable. In Q4 FY24, Zaggle’s net profit jumped 1.5 times to Rs. 19 crore. The company has also signed over 650 partnerships in the last year.