India, Dec. 4 -- Listed fintech SaaS company Zaggle said it will invest INR 75 Cr in Bengaluru-based fintech startup Rivpe Technology, which operates Rio.Money, post its acquisition.

In an exchange filing, Zaggle said its board approved the purchase of 81,429 equity shares and 16,407 CCPS of Rivpe for up to INR 22 Cr, representing 100% of the startup's fully diluted shareholding.

The deal is expected to be completed in 120 days. Zaggle said that the acquisition will strengthen its product suite and deepen its capabilities in UPI and consumer credit segments.

"The acquisition not only expands our product offerings for existing users and customer base, it also adds a deep expertise on the UPI and facilitates our entry into the consumer c...