Archive · 5 Dec 2025
Zaggle to Acquire Rio.Money for ₹75 Crore
Zaggle, a company that helps businesses manage their spending and uses special software, is buying another company called Rio.Money.
Rio.Money makes credit cards for regular people and helps them pay using their phones.
Zaggle will pay ₹75 crore to buy Rio.Money.
This money will help Rio.Money make better products, improve their technology, and reach more people.
The deal includes buying all of Rio.Money's shares, which means Zaggle will own the whole company.
Zaggle Prepaid Ocean Services Limited will acquire Rivpe Technology Private Limited (Rio.Money).
The acquisition includes the purchase of Rio.Money’s equity and preference shares for a cash consideration.
Zaggle will invest up to ₹75 crore in Rio.Money to support various initiatives.
The investment aims to enhance products, advance technology, and expand consumer payment offerings.
The acquisition is expected to be completed in one or more tranches.
- Who
- Zaggle Prepaid Ocean Services Limited and Rivpe Technology Private Limited (Rio.Money)
- What
- Acquisition of Rio.Money by Zaggle
- When
- December 5, 2025
- Where
- India
- Why
- To support product enhancement, technology advancement, go-to-market initiatives, and expansion of consumer payment offerings
- Acquirer
- Zaggle Prepaid Ocean Services Limited
- Target
- Rivpe Technology Private Limited (Rio.Money)
- Acquisition Type
- Equity and preference shares
- Investment Amount
- ₹75 crore
- Purpose
- Product enhancement, technology advancement, go-to-market initiatives, and expansion of consumer payment offerings
- Date
- December 5, 2025