Spend Management Driven by Zaggle’s Recent Acquisition

Spend management is at the forefront as fintech company Zaggle announces the 100% acquisition of Rivpe Technology, a startup focused on consumer credit cards and UPI payment solutions. The initial announcement was made in July this year. Through this transaction, Zaggle plans to acquire equity and preference shares from Rio Money, with a cash consideration that guarantees the purchase of the company’s entire issued and paid-up share capital on a fully diluted basis, pending the finalisation of the Share Purchase Agreement.

Zaggle mentioned in a press statement that it intends to invest up to Rs 75 crore in Rio Money, in one or multiple rounds, to facilitate enhancements to the product, technological improvements, market entry strategies, and the growth of consumer payment services. This acquisition is viewed as a pivotal move in Zaggle’s consumer payments strategy, allowing it to bolster its presence in the swiftly changing fintech landscape.

About Rio Money and Its Offerings

Rio Money, co-founded in 2023 by Riya Bhattacharya and Vivek Amarnani, is a fintech firm that aims to simplify access to credit through UPI payment systems. The platform provides credit options via QR codes using UPI and features co-branded Rupay credit cards. It is supported by various investors, including Blume Ventures and Village Global.

Zaggle’s Strategic Growth in Fintech

This acquisition follows Zaggle’s earlier purchase of Greenedge in September 2025, which focuses on loyalty experiences and rewards in the corporate golf sector. Established in 2011 by Raj N Phani Narayanam, Zaggle offers digital solutions aimed at business spend management. These include automation for expenses and payments, as well as comprehensive rewards and recognition programs.

Basing its operations in Hyderabad, Zaggle provides a wide array of SaaS products and services designed for corporate clients to digitise their payment processes and streamline corporate spending workflows. Services encompass prepaid cards, digital rewards, and management of employee benefits.

Zaggle’s Impressive Metrics

As of September 30, 2025, Zaggle proudly claims to have issued over 50 million prepaid cards, catering to more than 3.5 million users from diverse industries. The company’s enterprise network includes sectors such as banking and financial services, technology, healthcare, manufacturing, FMCG, infrastructure, and automobiles.