Zaggle to acquire fintech firm Rivpe, invest 75 crore rupees for expansion

Zaggle Prepaid Ocean Services Limited announced on December 4, 2025, that its board of directors approved the acquisition of Rivpe Technology Private Limited. This acquisition involves purchasing 81,429 equity shares and 16,407 compulsory convertible preference shares for up to INR 22 crore, representing 100% of Rivpe’s issued and paid-up capital on a fully diluted basis. Following the completion of this acquisition, Rivpe will become a wholly-owned subsidiary of Zaggle.

In addition to the acquisition, Zaggle will invest up to INR 75 crore in Rivpe, to be made in one or more tranches. This move is aimed at expanding Zaggle's product offerings, including UPI payments and co-branded consumer credit cards, leveraging Rivpe's expertise in these areas. Rivpe, incorporated on July 13, 2023, is a fintech company with a turnover of INR 0.98 crore in FY2025 and INR 0.13 crore in FY2024.

The transaction is expected to be completed within 120 days and will be settled via cash consideration. The acquisition is not considered a related party transaction.