About Rio
Rio is a company based in Bengaluru (India) founded in 2023 by Vivek Amarnani and Riya Bhattacharya was acquired by Zaggle in July 2025. It operates as a FinTech. Rio has raised $1.36 million across 1 funding round from investors including Zaggle, Village Global and Better Capital. Rio offers products and services including Rio UPI Credit Card. Rio operates in a competitive market with competitors including Stripe, Razorpay, Flutterwave, PayU and Mintoak, among others.
- Headquarter Bengaluru, India
- Founders Vivek Amarnani, Riya Bhattacharya
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Rivpe Technology Private Limited
- Date of Incorporation 13 Jul, 2023
- Jurisdiction Bangalore South, Karnataka, India
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Products & Services of Rio
Rio offers a comprehensive portfolio of products and services, including Rio UPI Credit Card. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A digital credit card with UPI integration offered.
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 Total Funding
- Total Rounds 1
- Last Round Seed — $1.4M
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First Round
First Round
(07 Nov 2023)
- Investors Count 9
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2023 | Amount | Seed - Rio | Valuation | Village Global |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage venture capital investing, network building, and founder support services.
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Founded Year | Domain | Location | |
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Early-stage companies are invested in by Better Capital.
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Founded Year | Domain | Location | |
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Seed and early-stage investments are made across sectors in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Rio
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Rio
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Rio Comparisons
Competitors of Rio
Rio operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Stripe, Razorpay, Flutterwave, PayU and Mintoak, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Payment processing and card issuance solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Payment and business banking solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Provider of payment processing solutions for businesses
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| domain | founded_year | HQ Location |
Online payment processing and credit solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Digital payments and engagement solutions are offered for MSMEs.
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| domain | founded_year | HQ Location |
Digital payments are processed and managed via specialized solutions.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Rio
When was Rio founded?
Rio was founded in 2023.
Where is Rio located?
Rio is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is Rio a funded company?
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 07, 2023.
What does Rio do?
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.
What products or services does Rio offer?
Rio offers Rio UPI Credit Card.
Who are Rio's investors?
Rio has 10 investors. Key investors include Zaggle, Village Global, Better Capital, Blume Ventures, and Unified Programming Interfaces.
What is Rio's valuation?
The valuation of Rio is $9.92M as of Nov 2023.
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