Fintech firm Zaggle acquires Rio Money for Rs 22 crore; plans to invest Rs 75 crore post-acquisition

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Fintech firm Zaggle, which offers spend management services, has acquired Rivpe Technology Private Limited (Rio.Money), a digital banking platform offering UPI-based payment solutions for Rs 22 crore, the company said in a stock exchange filing on Thursday.

Additionally, the Hyderabad-based fintech plans to invest Rs 75 crore in Rio.Money over multiple tranches to strengthen its product and improve its customer offerings. Through the acquisition, Zaggle, which offers expense management systems to corporations, will be able to issue RuPay-powered…



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Fintech firm Zaggle acquires Rio Money for Rs 22 crore; plans to invest Rs 75 crore post-acquisition



Fintech firm Zaggle, which offers spend management services, has acquired Rivpe Technology Private Limited (Rio.Money), a digital banking platform offering UPI-based payment solutions for Rs 22 crore, the company said in a stock exchange filing on Thursday.

Additionally, the Hyderabad-based fintech plans to invest Rs 75 crore in Rio.Money over multiple tranches to strengthen its product and improve its customer offerings. Through the acquisition, Zaggle, which offers expense management systems to corporations, will be able to issue RuPay-powered…



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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