Mumbai: Zaggle Prepaid Ocean Services Ltd, an expense-based fintech player, has announced its intention to acquire 100% of Rivme Technology, with an investment of ₹75 crores. The company, which operates under the brand name Rio.Money is an emerging company with established domain knowledge in UPI and has also forayed into the consumer credit card market.
For Hyderabad-headquartered Zaggle, 2025 has been a fairly memorable year, with Rivme being its fifth acquisition this year, after buying travel and corporate rewards company Greenedge Enterprises for ₹25 crore, spend management service provider Dice Enterprises for ₹123 crores, a controlling stake in software billing player EffiaSoft and another 38.34% stake in digital payment solution provider Mobileware Technologies.
Zaggle had announced the acquisition in July 2025, initially aiming to spend ₹22 crore on the company, it has now announced its intention to invest more to expand the brand further.
The company has spent under ₹300 crore for its five acquisitions this year, with an aim to become a $1 billion revenue enterprise within the next seven years. The company had earlier raised ₹595 crore through its Qualified Institutional Placement (QIP), and has used it to acquire these companies.
The company has reported its best financial performance for the July-September quarter, with revenues increasing 42% YoY and PAT growing 79% during the same period. The company has onboarded many new clients, and is hoping to increase its revenues by 40-45% this year.
On December 4, at 4.45 PM, the company’s shares were trading at ₹366 per share.
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