Mumbai: Zaggle has appointed Virat Diwanji, former Head of Consumer Banking at Kotak Mahindra Bank, as a Non-Executive, Non-Independent Director, effective October 4, 2024. The appointment comes as Zaggle, a SaaS FinTech firm, aims to strengthen its leadership amid expanding operations in the spend management sector.
With over 30 years of experience in banking, Diwanji has held various roles at Kotak Group, including overseeing joint ventures and mergers. He brings extensive experience from his time on the Kotak General Insurance Ltd board and as a member of Kotak Group’s top management committees. Before Kotak, he worked in management consultancy at A. F. Ferguson & Co., advising private and public sector clients in India and the UAE.
Raj Narayanam, Founder & Executive Chairman of Zaggle, noted that Diwanji’s background aligns with the company’s plans for growth in both the retail and commercial segments. Zaggle has also built partnerships with 14 banks, including ICICI, Axis, and SBI, to offer a variety of credit and prepaid card programs. As of mid-2024, Zaggle has issued over 50 million prepaid cards and serves around 2.9 million users, placing it among India’s leading prepaid card providers.
