Hyderabad-based fintech startup Zaggle Prepaid Ocean Services is preparing to expand into the MENA, aiming to start operations in the UAE by June 2026, Hindu Businessline reports.

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Growth markets: After the UAE rollout, Zaggle wants to expand across the wider MENA region through potential joint ventures or acquisitions, CEO Avinash Ramesh Godkhindi told the daily. The firm is currently in discussions with banks and global networks Visa and Mastercard for MENA partnerships. A US expansion over the next year or two is also under consideration.

New vertical: The firm plans to launch a retail credit-card through a B2B2C model, targeting INR 5 bn (USD 60 mn) in revenue over five years. It recently secured a third-party application provider licence from the National Payments Corporation of India, enabling it to expand its digital payment offerings.

The company is aiming to hit USD 1 bn in annual revenue in the long term as it looks to grow through international expansion and new products.

THE MENA CONNECTION- Indian tech startups are increasingly expanding into the Middle East as Gulf markets open up to foreign digital businesses. The UAE and Saudi Arabia have rolled out faster licensing processes, lower corporate-tax regimes, and tech-sector incentives to attract overseas companies, according to a recent EY report. A large Indian diaspora and rising demand for fintech and enterprise software are also drawing Indian startups to the region.

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