M&A
Fintech co. Zaggle to acquire co-branded credit cards player Rio.Money for Rs.22-Cr
Publicly listed, Hyderabad-based fintech SaaS company Zaggle is acquiring 100% shares capital and voting rights in Bengaluru-based fintech startup Rivpe Technology Pvt Ltd (Rio.Money) for INR 22 crore to enter the consumer credit card market.Founded in 2023 by Navi’s founding team member Riya Bhattacharya and angel investor Vivek Amarnani, Rio.Money offers UPI payments and co-branded credit cards. The startup promotes UPI transactions via credit cards. For FY24, it had a turnover of INR 13 lakh.
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