Zaggle CFO Aditya Kumar Steps Down

Listed fintech SaaS company Zaggle’s chief financial officer (CFO) Aditya Kumar tendered his resignation with immediate effect on April 3. Kumar cited “personal reasons” for his exit. 

He joined the company in 2022 as a vice president – finance and was elevated to the position of CFO later in the year. 

Prior to Zaggle, Kumar has held various positions with companies like Spandana Sphoorty, noon, The Sanmar Group in a career spanning over 14 years.

Meanwhile, Zaggle elevated deputy CFO, Rajesh Tummalaganti, to the post of interim CFO for the time being. 

Tummalganti joined Zaggle in December 2025 after an over 13 year stint with RMG gaming platform A23’s parent company Head Digital Works. The company had laid off nearly 500 employees around the time of Tummalganti’s exit.

The C-suite reshuffle comes amid a heightened business activity for Zaggle. Earlier this week, the SaaS company completed the acquisition of UPI provider Rio.Money (now Zagg). Its board subsequently approved an investment of ₹50 Cr in the wholly owned subsidiary. 

On the other hand, Zaggle’s board of directors called off the majority stake acquisition of SaaS firm Effiasoft after reassessing the “strategic need” of the deal. The company had announced plans to buy 51% stake in the PoS software solutions provider for ₹41.31 Cr in May 2025.

On the financial front, Zaggle is expecting to register a strong growth in its top line in FY27. It released projections showing standalone revenue growth of 25-30% and a consolidated revenue growth of approximately 40% for FY27 on the back of strong business momentum across its segments.

The company is yet to disclose its earnings for Q4 FY26. In Q3, Zaggle reported a net profit of ₹37.1 Cr, up 88% from ₹19.7 Cr from a year earlier. Operating revenue zoomed 56% YoY and 22% QoQ to ₹525.6 Cr during the quarter. 

Shares of Zaggle ended Thursday’s trading session 8.22% higher at ₹234.95.

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