India, March 26 -- Fintech SaaS company Zaggle has acquired an additional 12.34% stake in digital payments service provider Mobileware Technologies for INR 7.25 Cr.

In a statement, Zaggle said it acquired 4,622 equity shares for INR 7.25 Cr from the promoters of Mobileware, representing a 12.34% stake in the company on a fully diluted basis.

With this acquisition, Zaggle's total shareholding in Mobileware has increased to 38.34%. The spend management company had acquired a 26% stake in Mobileware Technologies (now known as '86400') for INR 15.6 Cr in September last year.

Founded in 2010, 86400 provides digital banking and fintech solutions. The company helps banks and financial institutions improve their digital services, especially in...