Employees’ expense management company Zaggle continues its acquisition spree in 2025 with a fresh deal to acquire Rivpe Technology Private Limited, widely known as Rio.Money, for Rs 22 crore ($2.5 million) in an all-cash transaction.
The acquisition, which includes 100% equity and voting rights, was disclosed through recent regulatory filings.
Founded in July 2023, Rio.Money operates in the high-growth segments of UPI payments and consumer credit cards—areas where Zaggle aims to deepen its market presence. The acquisition is expected to strengthen Zaggle’s fintech portfolio and expand its digital payments and credit product offerings.
Despite being a relatively new entrant with a modest turnover of Rs 13 lakh for FY24, Rio.Money brings technology capabilities that align with Zaggle’s broader vision of scaling in India’s digital finance ecosystem. The company aims to leverage Rio.Money’s platform to target a wider consumer base and gain a competitive edge in the UPI and credit card space.
This marks Zaggle’s fifth acquisition of the year. In June 2025, the company acquired Dice and GreenEdge Enterprises for Rs 150 crore. Earlier, it picked up a 51% controlling stake in EffiaSoft and a 38.34% stake in Mobileware Technologies.
The move reflects a broader trend in the fintech sector, where larger players are actively acquiring younger startups to enhance their technology stack, accelerate product development, and secure market share in rapidly expanding verticals.
With this latest acquisition, Zaggle continues to solidify its position as a diversified fintech platform catering to both enterprise and consumer segments.
