Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Fintech Mobikwik’s losses increased sixfold to Rs 42 crore in the first quarter of FY26.

August 2, 2025

Free Mercado leaders highlight the importance of AI as a central focus.

August 2, 2025

As profits increase, PB Fintech makes another move into common funds.

August 1, 2025

Saudi startups in AI and food technology showcase the swift growth of the ecosystem.

August 1, 2025
Facebook X (Twitter) Instagram
Trending
  • Fintech Mobikwik’s losses increased sixfold to Rs 42 crore in the first quarter of FY26.
  • Free Mercado leaders highlight the importance of AI as a central focus.
  • As profits increase, PB Fintech makes another move into common funds.
  • Saudi startups in AI and food technology showcase the swift growth of the ecosystem.
  • Nagendra Bandaru discusses how AI drives tangible outcomes in technology news.
  • GCC Fintech Market Forecasted to Grow at a CAGR of 15.68% from 2025 to 2033
  • The funding rises by $500 million to create a future driven by AI.
  • Zaggle, located in Hyderabad, purchases finup fintech rio.Money for Rs 22 crore.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    As profits increase, PB Fintech makes another move into common funds.

    August 1, 2025

    The integration of AI is advancing within Israel’s fintech sector.

    July 31, 2025

    The Journey of Sofi: Transitioning from Student Loans to Fintech Dominance

    July 25, 2025

    This Week in Fintech: Biweekly News Summary for June 24

    July 19, 2025

    Fintech and Global Expansion as Russia’s National Center Hosts a Major Session at SPIEF 2025 in Salt Lake City News, Weather, and Sports Updates

    July 15, 2025
  • AI

    Free Mercado leaders highlight the importance of AI as a central focus.

    August 2, 2025

    Nagendra Bandaru discusses how AI drives tangible outcomes in technology news.

    August 1, 2025

    The funding rises by $500 million to create a future driven by AI.

    August 1, 2025

    AI-driven finance platform secures $500 million in funding

    August 1, 2025

    Daloopa secures a $13 million strategic investment to enhance AI in finance with superior data infrastructure.

    August 1, 2025
  • Acquisitions

    The funding strategy for the Fintech company is secured.

    July 31, 2025

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025
  • Trends

    GCC Fintech Market Forecasted to Grow at a CAGR of 15.68% from 2025 to 2033

    August 1, 2025

    Fintech algoquant hits a 52-week peak amid broader market trends.

    July 31, 2025

    Exploring the Challenges of a Unsuccessful Proposal in a Turbulent Fintech Environment

    July 29, 2025

    European fintech company Tractial boosts its Bitcoin holdings to 25.03 BTC, highlighting trends in institutional cryptocurrency adoption.

    July 24, 2025

    Impacts of Q2 2025 Success for QCR Holdings Compared to Revenue Shortfall: A Disconnect in the Fintech Sector

    July 24, 2025
  • Insights

    Key Investors Drive Fintech Growth in the Philippines

    August 1, 2025

    Co-founder of Wise claims £10 billion fintech misled investors

    July 29, 2025

    Bruce Markets obtains strategic investment from Apex Fintech Solutions, Robinhood, and Tastytrade.

    July 23, 2025

    ICAPITAL Fintech Achieves a Valuation Exceeding $7.5 Billion in Recent Fundraising Amid Surge in Private Markets

    July 10, 2025

    Alphalésaka Technologies: The Potential Transformative Impact of Recent Fintech Acquisition

    July 9, 2025
  • Rumors

    Mybambu is expanding in West Palm Beach, aiming to create 200 new jobs, among several financial services firms that have relocated to Palm Beach County recently.

    July 31, 2025

    Hang Seng Electronic denies claims of partnership with anti-establishment groups as stock exchange declines by 0.17%

    July 29, 2025

    Kakaopay Stock Halted Amid Concerns Over Stablecoins

    July 26, 2025

    JPMorgan’s new fintech fees are provoking a response from the industry.

    July 26, 2025

    Bitcoin Surged 2.00% in 24 Hours Amid Trump’s Cryptographic Market Rumors

    July 26, 2025
  • Startups

    Fintech Mobikwik’s losses increased sixfold to Rs 42 crore in the first quarter of FY26.

    August 2, 2025

    Saudi startups in AI and food technology showcase the swift growth of the ecosystem.

    August 1, 2025

    Zaggle, located in Hyderabad, purchases finup fintech rio.Money for Rs 22 crore.

    August 1, 2025

    Payment Labs collaborates with Paul Brewer to create sports partnerships.

    August 1, 2025

    Growth of Fintech Innovation and Startups in the iGaming Sector

    August 1, 2025
  • finjobsly
fintechbits
Home » Zaggle, located in Hyderabad, purchases finup fintech rio.Money for Rs 22 crore.
Startup News

Zaggle, located in Hyderabad, purchases finup fintech rio.Money for Rs 22 crore.

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Ofbffertmcksibqtjlg9.png
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Zaggle Expands Consumer Credit Card Segment with Acquisition of Rio.Money

Zaggle Prepaid Ocean Services Limited, a publicly traded expenditure management company, is making significant strides in the consumer credit card market. The company has recently announced its acquisition of the fintech startup Rivpe Technology Private Limited, commonly known as Rio.Money, aiming to enhance its product offerings and market reach.

Based in Hyderabad, Zaggle has signed a non-binding term sheet to acquire 100% of Rio.Money for a cash consideration of ₹22 crores. The deal, which is subject to final agreements and customary conditions, is anticipated to close within 60 days, potentially extendable by 30 days upon mutual consent.

About Rio.Money

Established in July 2023, Rio.Money operates within the fintech landscape, focusing on facilitating monthly payments and emissions through QR codes using UPI (Unified Payments Interface). The startup has partnered with Yes Bank and the National Payments Corporation of India (NPCI), having launched a co-branded credit card in November 2024.

The founders, Riya Bhattacharya and Vivek Amarnani, have steered Rio.Money to report a turnover of ₹13 lakh for the fiscal year 2023-24, with a paid-up capital of ₹11.33 lakh. Currently, the company operates exclusively in India, targeting a niche market segment.

Strategic Benefits of the Acquisition

Zaggle’s acquisition of Rio.Money not only amplifies its existing user and customer product offerings but also brings substantial expertise in UPI transactions. This strategic move positions Zaggle to enter the consumer credit card market more robustly, expanding its competitive advantage within the fintech sector.

“We are thrilled to join forces with Zaggle, a leader in expenditure management,” said Riya Bhattacharya, CEO of Rio.Money. “This acquisition aligns perfectly with our vision of providing seamless credit through UPI. With Zaggle’s extensive reach and expertise, we are excited to introduce our innovative credit solutions to millions of users across India, paving the way for new digital payment avenues and empowering consumers.”

Zaggle’s Inorganic Growth Strategy

This acquisition is a part of Zaggle’s broader inorganic growth strategy, following a successful Qualified Institutional Placement (QIP) that raised ₹595 crores in 2024. Earlier in June, the company expanded its portfolio by acquiring Pune-based Dice, a platform dedicated to corporate expense management, and Golf Greenedged, a provider of golf loyalty solutions, in a combined deal valued at ₹150 crores.

Conclusion

The acquisition of Rio.Money represents a pivotal step for Zaggle in bolstering its presence within the consumer credit card segment. As the fintech ecosystem continues to grow, partnerships and acquisitions like this will play a crucial role in shaping the market landscape, facilitating innovative solutions for users across India.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Fintech Mobikwik’s losses increased sixfold to Rs 42 crore in the first quarter of FY26.

August 2, 2025

Saudi startups in AI and food technology showcase the swift growth of the ecosystem.

August 1, 2025

Payment Labs collaborates with Paul Brewer to create sports partnerships.

August 1, 2025
Leave A Reply Cancel Reply

Latest news

Fintech Mobikwik’s losses increased sixfold to Rs 42 crore in the first quarter of FY26.

August 2, 2025

Free Mercado leaders highlight the importance of AI as a central focus.

August 2, 2025

As profits increase, PB Fintech makes another move into common funds.

August 1, 2025
News
  • AI in Finance (1,426)
  • Breaking News (161)
  • Corporate Acquisitions (66)
  • Industry Trends (184)
  • Jobs Market News (298)
  • Market Insights (194)
  • Market Rumors (259)
  • Regulatory Updates (154)
  • Startup News (963)
  • Technology Innovations (156)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,426)
  • Breaking News (161)
  • Corporate Acquisitions (66)
  • Industry Trends (184)
  • Jobs Market News (298)
  • Market Insights (194)
  • Market Rumors (259)
  • Regulatory Updates (154)
  • Startup News (963)
  • Technology Innovations (156)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.