Zaggle to acquire digital banking platform Rio Money for Rs 22 crore

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Zaggle Prepaid Ocean Services Limited, one of India’s leading spend management companies, is set to acquire a 100% stake in fintech startup Rio Money for Rs 22 crore. With this acquisition, Zaggle plans to foray into the consumer credit card space via UPI.

Founded in 2023 by Riya Bhattacharya and Vivek Amarnani, Rio Money is a fintech company offering equated monthly instalments (EMIs) through credit payments on QR codes via UPI. This service is enabled through the co-branded Yes Bank-Rio RuPay Credit Card, launched in partnership with Yes Bank and…



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Zaggle to acquire digital banking platform Rio Money for Rs 22 crore



Zaggle Prepaid Ocean Services Limited, one of India’s leading spend management companies, is set to acquire a 100% stake in fintech startup Rio Money for Rs 22 crore. With this acquisition, Zaggle plans to foray into the consumer credit card space via UPI.

Founded in 2023 by Riya Bhattacharya and Vivek Amarnani, Rio Money is a fintech company offering equated monthly instalments (EMIs) through credit payments on QR codes via UPI. This service is enabled through the co-branded Yes Bank-Rio RuPay Credit Card, launched in partnership with Yes Bank and…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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