About Rio
Rio is a Financial Services company based in Bengaluru (India) founded in 2023 by Vivek Amarnani and Riya Bhattacharya, and was acquired by Zaggle in July 2025. EMIs and credit payments are facilitated via UPI QR codes. It operates on a FinTech model. Rio has raised $1.36 million across 1 funding round from investors including Zaggle, Village Global and Better Capital. Rio was last valued at $9.92 million in November 2023. Its Indian entity Rivpe Technology Private Limited reported revenue of ₹98.6 Lakh. Rio offers products and services including Rio UPI Credit Card. Its focus areas include Banking and Credit Cards. Its competitors include Razorpay, Mintoak and Pine Labs; 3 of its 3 listed competitors have raised funding.
Company details
A fully digital UPI credit card is offered by Rio through Rivpe Technology Private Limited. The service focuses on the financial sector, providing lifetime free cards with guaranteed cashbacks, exclusive offers, and secure transactions. Complementary lounge access and Rio Coins rewards are included for spends via UPI. Hassle-free onboarding and instant card activation are facilitated through a mobile app.
- Headquarters Bengaluru, India
- Founders Vivek Amarnani, Riya Bhattacharya
- Stage Acquired
- SectorsFinancial Services
- Website category Finance · Investing
- Email••••••••
- Phone•••• ••••
- Website rio.money
- Social LinkedIn Instagram
- Acquired by Zaggle (Jul 2025)
- Legal Name Rivpe Technology Private Limited
- Date of Incorporation 13 Jul, 2023
- Jurisdiction Bangalore, Karnataka, India
Associated legal entities of Rio
Rio operates through Rivpe Technology Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Rivpe Technology Private Limited CIN U62099KA2023PTC175969 | Active | 13 Jul 2023 | Bangalore, Karnataka | ₹1.0 Cr | 2 | View details |
Products & Services of Rio
Rio offers a comprehensive portfolio of products and services, including Rio UPI Credit Card.
A digital credit card with UPI integration offered.
Apps and channels of Rio
Rio publishes 1 mobile app with over 100K+ downloads.
Funding Insights of Rio
Rio has successfully raised a total of $1.36M through 1 strategic funding round. The most recent funding activity was a Seed round of $1.36 million completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $1.36M
- Total Rounds 1
- Last Round Seed — $1.36M
- First Round $1.36M
(Nov 2023)
- Investors Count 9
All 1 funding rounds of Rio with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov 2023 | $1.36M | Seed | $9.92M | Village Global |
| Date | Valuation | Stage |
|---|---|---|
| Nov 2023 | $9.92M | •••••••• |
Last known valuation $9.92M (Nov 2023). 10 investors in total: 5 institutional and 5 angel.
Investors in Rio
Rio has secured backing from 10 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Zaggle, Village Global and Better Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage venture capital investing, network building, and founder support services. | villageglobal.vc | |||
Early-stage companies are invested in by Better Capital. | bettercapital.vc | Santa Clara, United States | ||
Seed and early-stage investments are made across sectors in India. | blume.vc | Mumbai, India | ||
Venture debt funding is extended to firms in various sectors. | unifiedprogramminginterfaces.tcc.mode | Bengaluru, India | ||
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | zaggle.in | Hyderabad, India | |
MS Mohit Sadaani | Co-founder of The Moms Co., active angel investor in consumer startups | unknown_9b4d9c0ac9224753a | ||
RR Ranjan R Reddy | Founder of Bureau, angel investor in Indian startups | unknown_3f6278f8b9ac4087b | ||
SD Shweta Dasgupta | Angel investor focusing on early-stage Indian startups in tech and consumer sectors. | unknown_575678beb33b485fa | ||
AS Arko Subai | unknown_4acc0dddf5aa4690a | |||
DS Dhyanesh Shah | Co-founder of Mosaic Wellness, active angel investor in Indian startups | unknown_933d77cf0bad43189 |
Investor details for Rio
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Rivpe Technology Private Limited (Rio)
Rivpe Technology Private Limited is the primary company behind Rio. The board of Rivpe Technology Private Limited currently have 2 directors; the longest-serving is Riya Bhattacharya, appointed in 2023. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Riya Bhattacharya DIN 07071729 | Director | 13 Jul 2023 | 3 yrs 3 mo | Rivpe Technology Private Limited |
| Vibhore Goyal DIN 02157024 | Director | 14 Jul 2025 | 1 yr 3 mo | Rivpe Technology Private Limited |
People of Rio
2 people are tracked at Rio (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
| Co-Founder | Leadership |
Complete people profiles for Rio
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Rio
Figures of Rivpe Technology Private Limited, the primary company behind Rio, for FY 2025. Revenue was ₹98.6 Lakh (+659% year on year). Net loss was -₹3.88 Cr (-394% margin). EBITDA was -₹3.50 Cr (-354% margin).
- ₹98.6 LakhRevenue · FY 2025 · +659% YoY
- -₹3.88 CrNet loss · -394% margin
- -₹3.50 CrEBITDA · -354% margin
- ₹11.4 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Rivpe Technology Private Limited are on its company page.
Detailed financial statements for Rio
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Rio
4 dated milestones of Rio across 2 years, from founding to its latest funding, stage changes and deals.
- Founded Rio is founded.
- Funding First funding round of $1.4M.
- Milestone Reaches Minicorn status.
- Exit Acquired by Zaggle.
Competitors of Rio
Rio has 3 listed competitors in our database, 3 of them funded. They include Razorpay, Mintoak and Pine Labs.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| razorpay.com | 2014 | Bengaluru, India | $741.62M | 2,641 | Payment and business banking solutions are provided for enterprises. | |
| mintoak.com | 2017 | Mumbai, India | $24.71M | 140 | Digital payments and engagement solutions are offered for MSMEs. | |
| pinelabs.com | 1998 | Noida, India | $1.23B | 3,780 | Omnichannel payment solutions, loyalty programs, and business tools are provided. |
Detailed competitors of Rio
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Rio
The website of Rio (rio.money) receives about 8.1K visits a month and ranks #989,403 among all websites worldwide, #8,923 in Investing.
- Monthly visits8.1K
▼ 75.6% vs previous month
- Unique visitors18.2K
per month
- Global rank#989,403
among all websites
- Category rank#8,923
Finance · Investing
- Bounce rate61%
- Pages per visit1.6
- Average visit25 sec
- DevicesDesktop 8% · Mobile 92%
Websites whose visitors overlap most with Rio. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| yesbank.in | 100% | 220.8K | #91,077 | View details |
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as Rio (Payments & Remittance Platforms) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 2.81 B | USD 1.05 B | 39,368 | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | USD 950.07 M | 12,265 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 741.62 M | USD 302.19 M | 2,850 |
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Frequently Asked Questions about Rio
Rio was founded in 2023.
Rio is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Rio is a funded company, having raised a total of $1.36M across 1 funding round to date. The company's 1st funding round was a Seed of $1.36M, raised on Nov 2023.
The primary company behind Rio, Rivpe Technology Private Limited, reported revenue of ₹98.6 Lakh for FY 2025, up 659% year on year.
A fully digital UPI credit card is offered by Rio through Rivpe Technology Private Limited. The service focuses on the financial sector, providing lifetime free cards with guaranteed cashbacks, exclusive offers, and secure transactions. Complementary lounge access and Rio Coins rewards are included for spends via UPI. Hassle-free onboarding and instant card activation are facilitated through a mobile app.
Rio offers Rio UPI Credit Card.
Rio has 10 investors. Key investors include Zaggle, Village Global, Better Capital, Blume Ventures, and Unified Programming Interfaces.
The valuation of Rio is $9.92M as of Nov 2023.
Rio operates through Rivpe Technology Private Limited.
Yes. Rio was acquired by Zaggle in July 2025.
The legal entities of Rio currently have 2 directors, including Riya Bhattacharya, Vibhore Goyal.