Zaggle to Fully Acquire Rio.Money for ₹22 Crore to Boost UPI and Credit Card Offerings

Zaggle Prepaid Ocean Services Limited has entered into a non-binding agreement dated 29 July 2025 to fully acquire Rivpe Technology Private Limited, known as Rio.Money. This acquisition involves 100% of Rio.Money’s share capital and voting rights for a total consideration of ₹22 crores. 

The deal is subject to the finalisation of binding agreements and fulfilment of predefined conditions. The acquisition will be executed entirely in cash within 60 days from the signing date, with a possible extension of 30 days upon mutual agreement.

Purpose and Strategic Fit

This acquisition marks Zaggle’s strategic expansion into the fintech space, especially in consumer credit cards and UPI transactions. By integrating Rio.Money’s offerings, Zaggle aims to broaden its service portfolio for its current clientele and leverage Rio.Money’s specialised UPI capabilities to strengthen its position in the digital payments ecosystem. 

Importantly, the transaction does not constitute a related party deal, and no regulatory approvals are required.

Details of the Acquired Entity

Rio.Money, established on 13 July 2023, operates exclusively in India and provides UPI-based payments and co-branded credit cards. As of the financial year ending 31 March 2024, it recorded a turnover of ₹0.13 crores. 

The company has an authorised share capital of ₹15 lakhs and a paid-up capital of ₹11.33 lakhs. With this acquisition, Zaggle secures complete control of Rio.Money and its niche fintech services.

Read More: Zaggle Prepaid Ocean Services Signs 5-Year Agreement with DTDC Express!

Zaggle Prepaid Ocean Services Share Price Performance 

As of July 30, 2025, at 12:33 PM, Zaggle Prepaid Ocean Services share price is trading at ₹386.55 per share, reflecting a decline of 1.97%. Over the past month, the stock has declined by 6.38%. The stock's 52-week high stands at ₹591.90 per share, while its low is ₹298.65 per share.

Conclusion 

The acquisition of Rio.Money enables Zaggle to strengthen its fintech presence by entering the UPI and consumer credit card segments, enhancing its product ecosystem and digital capabilities.

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