When was Rio founded?

Rio was founded in 2023 and raised its 1st funding round within a year of its incorporation.

Where is Rio located?

Rio is headquartered in Bengaluru, India. It is registered at No 1231,F-01,48th cross, 37th main,PP layout, Subramanyapura, Bangalore, Bangalore South, Karnataka, India, 560061.

Which legal entities is Rio associated with?

Rio is associated with RIVPE TECHNOLOGY PRIVATE LIMITED.

How many employees does Rio have?

As of Aug 31, 2026, the latest employee count at Rio is 48.

Is Rio a funded company?

Rio is a funded company, having raised a total of $***** in its 1st and only funding round, a Seed round on Nov 07, 2023.

How much is Rio worth?

The last known valuation of Rio was $***** as of Jul 29, 2025.

When was the latest funding round of Rio?

Rio's latest funding was a $***** Seed round on Nov 07, 2023, with participation from 9 investors. Its primary sector is Payments. In India, the Payments sector has seen $809M in funding in 2026 to date.

What is the annual revenue of Rio?

Annual revenue of Rio is less than ₹10 Cr as on Mar 31, 2025

Where does Rio rank among its competitors?

Rio ranks 121st amongst 6098 active competitors, of which 504 are funded. It stands 10th in terms of total funding among its competitors. The most recent competitor to raise funding was Flutterwave, which secured an undisclosed amount in Jul, 2026.

Who are the top competitors of Rio?

Rio's top competitors include PayPal, Stripe and Razorpay. Among them, Flutterwave secured the most recent funding round in July, 2026.

Rio - 2026 Company Profile, Team, Funding, Competitors & Financials

Q: Is Rio an acquired company?

Rio got acquired by Zaggle on Jul 29, 2025.

Company Details

Fintech startup offering EMIs through credit payments on QRs over UPI. It is a financial product that offers credit and EMIs for users that is available on UPI apps. It is a rewarding payments app that allows payments at over multiple merchants, integrates with payment platforms. Users can pay in installments and receive personalized rewards based on shopping needs.

Website: rio.money
Email ID: *****@rio.money
Registered Address: No 1231,F-01,48th cross, 37th main,PP layout, Subramanyapura, Bangalore, Bangalore South, Karnataka, India, 560061

Key Metrics

Founded Year

2023

Location

Bengaluru, India

Stage

Acquired

Total Funding

$1.36M in 1 round

Latest Funding Round

Seed, Nov 07, 2023, $*****

Last Known Valuation

$***** as on Jul 29, 2025

Investors

Village Global & 11 more

Ranked

121^st among 6098 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2025

Employee Count

48 as on Aug 31, 2026

Similar Companies

Flutterwave & 3785 more

Exit Details

Acquired by Zaggle (Jul 29, 2025)

View Rio's full profile

Rio is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
RIVPE TECHNOLOGY PRIVATE LIMITED CIN: U62099KA2023PTC175969 , India, Active	Jul 13, 2023	0 - ₹10 Cr (As on Mar 31, 2025)	-

Rio got acquired by Zaggle on Jul 29, 2025 at an acquisition amount of $*****.

Click here to take a look at Rio's acquisition in detail

Rio has raised a total funding of $1.36M over 1 round. Its latest funding round was a Seed round on Nov 07, 2023 for $*****. 9 investors participated in its latest round. Rio has 4 institutional investors and 8 angel investors.

Here is the list of recent funding rounds of Rio:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Nov 07, 2023	4321106	Seed	1877679	4463392	5401253	7548961

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View details of Rio's funding rounds and investors

The founders of Rio are Riya Bhattacharya and Vivek Amarnani.

Here are the details of Rio's key team members:

Riya Bhattacharya: Co-Founder of Rio and founder of 1 other company. They are also an angel investor in 2 startups and serve on the board of 1 company.
Contact Info: 2 email addresses and 1 phone number
Vivek Amarnani: Co-Founder of Rio.

View details of Rio's Founder profiles and Board Members

Rio's employee count trend

Rio has 48 employees as of Aug 26. Here is Rio's employee count trend over the years:

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Top competitors of Rio include PayPal, Stripe and Razorpay. Here is the list of Top 10 competitors of Rio, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	PayPal 1998, United States, Public	Provider of online payment solutions, money transfers, and virtual wallets	$216M	ING, MDP & 29 others	87/100
2nd	Stripe 2010, San Francisco (United States), Series I	Provider of financial infrastructure solutions for revenue growth and payment processing	$9.81B	General Catalyst, Sequoia Capital & 135 others	86/100
3rd	Razorpay 2014, Bengaluru (India), Series F	Provider of payment and business banking solutions for enterprises	$742M	Peak XV Partners, GIC & 36 others	85/100
4th	Flutterwave 2016, San Francisco (United States), Series E	Provider of payment solutions for online and physical business transactions	$489M	Greycroft, Mastercard & 73 others	83/100
5th	Xendit 2015, Jakarta (Indonesia), Series D	Online payment and money transfer platform for businesses	$554M	Accel, Amasia & 28 others	83/100
6th	Airwallex 2015, San Francisco (United States), Series H	Provider of financial infrastructure for processing payments and managing treasury	$1.9B	Lone Pine Capital, Addition & 52 others	83/100
7th	Adyen 2006, Amsterdam (Netherlands), Public	Provider of end-to-end payment, data, and financial management platform solutions	$266M	Index Ventures, Iconiq Capital & 15 others	82/100
8th	Pine Labs 1998, Noida (India), Public	Provider of in-store and online payment, prepaid, and financial solutions	$954M	Peak XV Partners, Actis & 187 others	80/100
9th	PayU 2002, Amsterdam (Netherlands), Funding Raised	Provider of online payment solutions and financial services for businesses	-	PROSPER, Gecad Ventures & 4 others	79/100
10th	Mercado Pago 2003, Buenos Aires (Argentina), Series D	Provider of online payment processing and digital financial services	$233M	Goldman Sachs, Citi & 1 others	77/100
121st	Rio 2023, Bengaluru (India), Acquired	Fintech startup offering EMIs through credit payments on QRs over UPI	$1.36M	Blume Venture, Unified Programming Interfaces ... & 10 others	58/100

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Founders (largest shareholder) own 83.30%, Funds own 13.06%, Enterprises own 0.10% and Angels own 0.52%. The net worth of Rio's founders is INR 68.8Cr as of Nov 07, 2023.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	83.30%	68.8Cr	5401536	2985533	8136423	2365055
Riya Bhattacharya	1764905	1362948	7537526	7724866	4843015	1035183
Vivek Amarnani	9681687	8434753	4921521	3641064	7108657	9738585
Fund	13.06%	10.8Cr	4703134	9155118	4757864	1729105
Village Global	1421965	8298307	2663526	6047556	4447056	6440529
Better Capital	45	47	42	54	93	23
Enterprise	0.10%	8.28L	0	0	0	0
Angel	0.52%	43L	0	0	0	0
ESOP Pool	3.02%	2.49Cr	331	496	653	165
Total	100.00%	82.6Cr	3209513	6318692	6760892	9388931