Zaggle Announces Exit of CFO Aditya Kumar

On April 3, Aditya Kumar, CFO of the publicly traded fintech SaaS business Zaggle, resigned from his position with immediate effect. Kumar stated that he was leaving due to personal matters. He became a part of the organisation in 2022 as VP of finance and was promoted to CFO that same year. Over the course of his fourteen-year career, Kumar has worked for Spandana Sphoorty, Noon, and The Sanmar Group, among others.

At the same time, Rajesh Tummalaganti was promoted to the position of acting chief financial officer by Zaggle. After more than thirteen years with Head Digital Works, parent firm of RMG gaming platform A23, Tummalganti joined Zaggle in December 2025. Approximately when Tummalganti left, the firm had laid off about 500 workers.

Recent Developments at Zaggle

Zaggle is experiencing a surge in business activity, which coincides with the C-suite reorganisation. The software-as-a-service provider acquired UPI vendor Rio.Money (formerly Zagg) earlier this week. Subsequently, INR 50 Cr was invested in the fully owned subsidiary by its board of directors. However, after reevaluating the "strategic need" of the purchase, Zaggle's board of directors decided to scrap the majority share acquisition of SaaS provider Effiasoft. May 2025 saw the announcement that the business would be spending INR 41.31 cr to acquire a 51% interest in the point-of-sale software solutions supplier.

From a financial perspective, Zaggle anticipates a robust increase in its top line in FY27. Its strong business momentum across its segments led to the issuance of predictions projecting consolidated revenue growth of over 40% and standalone revenue growth of 25-30% for FY27. Earnings for Q4 FY26 have not been released by the company. Net income for Zaggle came to INR 37.1 Cr in the third quarter, rising 88% year-over-year from INR 19.7 Cr. Operating revenue reached INR 525.6 Cr, an increase of 56% year-on-year and 22% quarter-on-quarter.

World Witnessing Massive Layoffs

 Large numbers of employees are being laid off as a result of the tech industry's ongoing evolution and adaptation to new market conditions. Managers and engineers in the middle management levels in the IT services, e-commerce, and startup sectors are among the many impacted workers in the tech industry.

Understanding the rationale for these layoffs is crucial, even if it can be a difficult and confusing moment for individuals impacted. Companies in the technology sector have seen a slowdown in revenue growth due to factors such as inflation, cost escalations caused by rising fuel prices, and operational and supply-chain delays caused by revenue moderations.