Mumbai, July 30 -- Rio.Money, a fintech company offers UPI payments and co-branded consumer credit cards. Its turnover was Rs 0.13 crore as on 31st March 2024.

The said acquisition not only expands the company's product offerings for existing user and customer base, it also adds a deep expertise on the UPI and facilitates its entry into the consumer credit card market.

The acquisition is expected to be completed within 60 days from the date of execution of term sheet which can be further mutually extended by 30 days.

Zaggle Prepaid Ocean Services (Zaggle) is a leading player in spend management, with a differentiated value proposition and diversified user base. The company operates in the business-to-business-to-customer segment. It is...