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 Apr 30, 2026, the latest employee count at Rio is 52.

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.

What is the annual revenue of Rio?

Annual revenue of Rio is ₹98.6L as on Mar 31, 2025.

Where does Rio rank among its competitors?

Rio ranks 48th amongst 433 active competitors, of which 70 are funded. It stands 10th in terms of total funding among its competitors. The most recent competitor to raise funding was BharatPe, which secured $10M in Mar, 2026.

Who are the top competitors of Rio?

Rio's top competitors include Stripe, Razorpay and PayU. Among them, BharatPe secured the most recent funding round in March, 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

48^th among 433 active competitors

Annual Revenue

₹98.6L as on Mar 31, 2025

Employee Count

52 as on Apr 30, 2026

Similar Companies

PayPal & 3365 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	$117K (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	1975400	Seed	2697844	4328099	4037728	1384006

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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 1 startup 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 52 employees as of Apr 26. Here is Rio's employee count trend over the years:

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Top competitors of Rio include Stripe, Razorpay and PayU. 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	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 & 121 others	87/100
2nd	Razorpay 2014, Bengaluru (India), Series F	Provider of payment and business banking solutions for enterprises	$742M	Peak XV Partners, GIC & 35 others	86/100
3rd	PayU 2002, Amsterdam (Netherlands), Series C	Provider of payment solutions and credit products for online merchants	$35.1M	Naspers, Prosus & 4 others	84/100
4th	BharatPe 2018, Gurugram (India), Series E	Provider of payment solutions, lending, and investment opportunities for businesses	$584M	Coatue, Ribbit Capital & 56 others	83/100
5th	Flutterwave 2016, San Francisco (United States), Series D	Provider of payment solutions for online and physical business transactions	$489M	Greycroft, Mastercard & 71 others	83/100
6th	Adyen 2006, Amsterdam (Netherlands), Public	Provider of end-to-end payment, data, and financial management platform solutions	$266M	Index Ventures, Iconiq Capital & 14 others	80/100
7th	ACI Worldwide 1975, Omaha (United States), Public	Process and manage digital payments	-	ABS Capital, Starboard Value & 2 others	76/100
8th	Mintoak 2017, Mumbai (India), Series A	Digital payments and engagement solutions for MSMEs	$30.6M	HDFC Bank, PayPal Ventures & 18 others	74/100
9th	Airpay 2012, Mumbai (India), Series A	Provider of omnichannel payment gateway solutions and financial service platform	$3.63M	Kalaari Capital, Mosaic Capital Services & 7 others	72/100
10th	Mobileware Tech 2010, Mumbai (India), Acquired	Developer of software solutions for the insurance and banking management	$5.27M	Kvanto, Zaggle & 9 others	70/100
48th	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	54/100

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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	2023357	2728937	4199938	9916791
Riya Bhattacharya	5861103	3288552	5584729	7303489	3570420	3595868
Vivek Amarnani	3401307	9722643	9891920	3808841	6333618	3663911
Fund	13.06%	10.8Cr	7861689	1897226	8074926	9283243
Village Global	7494540	6948726	8634819	6558067	2115714	1130863
Better Capital	52	66	80	38	61	94
Enterprise	0.10%	8.28L	0	0	0	0
Angel	0.52%	43L	0	0	0	0
ESOP Pool	3.02%	2.49Cr	553	124	834	557
Total	100.00%	82.6Cr	9350956	4568566	9339118	4214036