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SaaS fintech startup Zaggle rejigs top management team with two new appointments
Photo Credit: 123RF.com

Saas fintech firm Zaggle Prepaid Ocean Services Pvt. Ltd has rejigged its top management team, and appointed Vidyaniwas Khetawat as its Chief Financial Officer (CFO) and Raghav Hari Choudhary its Vice President (VP), Investor and Corporate Development, the company said in a statement.  

Choudhary and Khetawat be responsible for the company’s growth and strategy management. Khetawat, as the CFO, will be responsible for all finance and accounting functions, along with fundraising, the company said, Choudhary will be responsible for overseeing and negotiating strategic acquisitions, and also engaging in fundraising and stakeholder management.  

Both Khetawat and Choudhary will help the company build innovative solutions for spend management, which is a key focus area for Zaggle. Khetawat and Choudhary’s appointment comes at a time when Zaggle is looking to raise funds for its business growth and expansion, the company said.  

“As a company we have a lot in store for 2022. Finance is a key pillar for any business and more so for a SaaS FinTech like Zaggle. I am confident the expertise that Vidyaniwas Khetawat and Raghav Choudhary bring to the table will immensely benefit Zaggle in raising capital and executing our M&A plans,” said Raj N, Founder and Chairman, Zaggle.  

Khetawat has 20 years of experience in private equity (PE), entrepreneurship, corporate development, engineering and business consulting space. He has worked with multinational companies spanning across countries including the US, Singapore and India. Khetawat has worked with companies like Hudson Clean Energy Partners, Nohara-Solargy, Amonix Inc. and Netlink, the statement said.  

Khetawat has experience in cross-border investing in private companies, managing portfolio companies, raising funds and executing new market entry strategies, and building businesses from scratch, as he has been an entrepreneur for several years before joining Zaggle, the company said. 

Khetawat is an engineer from IIT-Delhi, and holds a Master of Engineering degree from National University of Singapore. He has also completed his MBA from the University of Chicago Booth School of Business.  

Choudhary, on the other hand, has experience in strategic and capital market exits, mergers and acquisitions deals, and investor relations. He has over seven years of experience and has played a vital road in several successful transactions. Choudhary has understanding of global cultures and philosophies, the company said. Choudhary is a New York University alumnus and has studied liberal arts there.  

Choudhary has worked with the companies including Morgan Stanley and Fredericks Michael in New York in their investment banking divisions, and Mylen India, a Chrys Capital spin out, where he led investor relations and spearheaded investments for a $100 million fund, the company said. Choudhary was with Everstone Capital in their exit team working on several IPO’s (initial public offer) and private transactions, before joining Zaggle, the company said. 

“With a team this accomplished, I am confident we will deliver phenomenal innovations and strong numbers in the years to come. With a constant evolution in the fintech space, the new talent with fresh approaches and ideas will further our growth and global expansion,” said Avinash Godkhindi, Managing Director and Chief Executive Officer, Zaggle.  

Zaggle was founded in 2011 by Raj N. It primarily facilitates employee rewards and recognition, channel partner incentives and employee benefits.  

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