Zaggle Accelerates Fintech Expansion: Acquires Rivpe Technology for Rs 220 Million in Strategic SaaS Play

Zaggle Prepaid Ocean Services Ltd., a leading SaaS-based fintech platform, has announced the acquisition of Rivpe Technology Pvt. Ltd. for Rs 220 million in an all-cash deal. The transaction, confirmed on July 29, 2025, marks Zaggle’s latest move to deepen its capabilities in spend management and embedded finance, following a series of strategic investments and partnerships over the past year.

This acquisition is part of Zaggle’s broader inorganic growth strategy aimed at achieving a billion-dollar revenue target within the next five years.

Key Highlights of the Acquisition

Zaggle will acquire 100% equity in Rivpe Technology Pvt. Ltd. for Rs 220 million

The deal is expected to close in Q3 FY26, subject to regulatory approvals

Rivpe’s proprietary SaaS platform will be integrated into Zaggle’s Zoyer suite

The acquisition will be funded through internal accruals and recent QIP proceeds

Rivpe Technology specializes in merchant card software and accounts receivable automation, offering solutions that complement Zaggle’s existing product stack.

Strategic Rationale and Synergy

Product Expansion

Rivpe’s platform will enhance Zaggle’s Zoyer offering with advanced invoice-to-cash workflows

Integration will enable real-time reconciliation, credit scoring, and payment tracking for SMEs

Customer Base Diversification

Rivpe brings over 300 mid-market clients across retail, logistics, and healthcare sectors

Zaggle will cross-leverage its existing corporate relationships to upsell bundled solutions

Technology Integration

Rivpe’s AI-driven analytics and OCR capabilities will be embedded into Zaggle’s RazBot engine

The combined platform will offer predictive insights and automated compliance features

Revenue and Margin Impact

The acquisition is expected to be EBITDA accretive within 12 months

Zaggle anticipates a 9–11% increase in SaaS segment revenue post-integration

This move follows Zaggle’s recent acquisitions of TaxSpanner and Mobileware Technologies, reinforcing its position as a full-stack fintech enabler.

Market Position and Growth Strategy

Zaggle continues to scale its operations across multiple verticals:

Operates over 50 million co-branded prepaid cards in partnership with leading banks

Serves more than 3,100 corporate clients and 2.9 million users across India

Offers a diversified suite of products including Propel (rewards), Save (expense management), and Zoyer (vendor payments)

Recently partnered with Skydo for international remittance integration and launched the Zaggle Yes Bank Corporate Credit Card

The company’s Q1 FY25 revenue stood at Rs 2.52 billion, up 112.9% year-on-year, with adjusted EBITDA of Rs 255.8 million.

Implications for Stakeholders

Shareholders may benefit from improved operating leverage and product monetization

Clients will gain access to a more comprehensive spend management ecosystem

Rivpe’s team will join Zaggle’s Hyderabad and Mumbai offices, ensuring continuity and innovation

Zaggle’s inorganic growth strategy is aligned with its goal to double revenue within two years and expand its footprint in domestic and international markets.

Conclusion

Zaggle’s acquisition of Rivpe Technology for Rs 220 million underscores its commitment to building a robust, scalable, and intelligent fintech platform. As the company continues to consolidate its position in the SaaS and embedded finance space, this deal adds another layer of strategic depth to its growth narrative.

Source: Business Standard – July 29, 2025 Moneycontrol – July 29, 2025 NDTV Profit – July 29, 2025 Zaggle Investor Presentation – July 29, 2025 The Economic Times – July 29, 2025 ZaubaCorp – July 29, 2025