Key Highlights
- Zaggle to acquire 100 percent stake in Rivpe Technology Private Limited.
- Acquisition includes 81,429 equity shares and 16,407 preference shares.
- Deal value for acquisition up to ₹22 crore.
- Additional investment of up to ₹75 crore planned in tranches.
- Rivpe specialises in UPI and consumer credit card solutions.
- Transaction expected to conclude within 120 days.
Zaggle Prepaid Ocean Services Limited has approved a complete acquisition of Rivpe Technology Private Limited, strengthening its position in the fintech and consumer credit landscape.
The transaction includes the purchase of 81,429 equity shares and 16,407 compulsory convertible preference shares, representing 100% of Rivpe’s fully diluted paid-up capital. The acquisition is valued at up to ₹22 crore.
Additionally, the board has approved an investment of up to ₹75 crore, to be infused in one or more tranches. Upon completion, Rivpe will become a wholly owned subsidiary of Zaggle.
Rivpe, incorporated in July 2023, operates in the fintech space offering UPI payment solutions and co-branded consumer credit cards. The company reported a turnover of ₹0.98 crore in FY2025, rising from ₹0.13 crore in FY2024.
The acquisition is expected to expand Zaggle’s product portfolio, deepen its expertise in UPI technology, and support its entry into the consumer credit card segment. The transaction is planned to be completed within 120 days.