Zaggle Prepaid Ocean Services, a Hyderabad-based spend management company, is set to enter the consumer credit card space with the acquisition of Bengaluru-based fintech startup Rivpe Technology Pvt. Ltd., which operates as Rio.Money. The deal is valued at ₹22 crore and involves a 100% buyout of Rio.Money’s equity shares and voting rights. Zaggle shared in a stock exchange filing that the acquisition is currently in process and will be completed after signing the final agreements and fulfilling certain pre-agreed conditions. The transaction is expected to close within 60 days, with a possible 30-day extension if
needed.
Founded in 2023, Rio.Money focuses on UPI-based payments and co-branded consumer credit cards, making it a strategic fit for Zaggle’s expansion plans. Through this acquisition, Zaggle aims to strengthen its product offerings and tap into the fast-growing consumer credit card market particularly via the UPI ecosystem, which is witnessing rapid adoption across India. This move marks a significant step in Zaggle’s growth journey and digital finance push.
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