9 FINANCEOUTLOOKINDIADECEMBER, 2025· Life insurers' new business premium rose 12% in October 2025, reaching 34,007 crore across LIC and private players.· GST exemption and increased individual policy demand fueled strong growth in India's life insurance sector.ZAGGLE COMPLETES FULL ACQUISITION OF FINTECH STARTUP RIO MONEYBy Finance Outlook India TeamFintech startup Rivpe Technology, which specializes in consumer credit cards and UPI-based payment solutions, has reached final agreements for a 100% acquisition by Zaggle, a spend management and SaaS-led company.Subject to the completion of the Share Purchase Agreement, Zaggle will purchase all of Rio Money's issued and paid-up share capital on a fully diluted basis by purchasing its equity and preference shares for cash.In a press release, Zaggle said that it would invest up to Rs 75 crore in Rio Money in one or more tranches to support consumer payment options, go-to-market strategies, product refinement, and technological innovation. The business further stated that this acquisition represents a significant advancement in its consumer payments strategy, allowing it to bolster its position in the quickly changing fintech industry.Rio Money is a fintech firm that was co-founded in 2023 by Vivek Amarnani and Riya Bhattacharya. Its specialty is providing credit through UPI-based payments. Supported by investors like Village Global and Blume Ventures, the platform provides credit via QR codes over UPI and co-branded Rupay credit cards.This deal comes after Zaggle acquired Greenedge, a company that focuses on golf-based corporate engagement and specializes in loyalty experiences and rewards, in September 2025.Zaggle is a fintech firm that was founded in 2011 by Raj N Phani Narayanam. It offers digital solutions for business spend management, such as automation of payments and expenses, as well as programs for rewards and recognition. The Hyderabad-based business targets corporate clients with a variety of SaaS solutions and services to streamline corporate spending processes and digitize payments. Prepaid cards, digital rewards, and employee benefits administration are among its offerings.According to Zaggle, as of September 30, 2025, it had provided over 50 million prepaid cards to over 3.5 million consumers across various businesses. Banking and financial services, technology, healthcare, manufacturing, FMCG, infrastructure, and cars are all included in the platform's enterprise network. REPORT
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