Recharge Secures €45 Million from ABN AMRO for Growth Strategy

2025-01-20 community

Amsterdam, Monday, 20 January 2025.
Recharge, an Amsterdam-based fintech, obtains €45M from ABN AMRO to fuel its acquisitions strategy, targeting closure of two to three deals in 2025 as it expands its prepaid payments dominance.

Strategic Partnership and Growth Plans

The debt facility agreement, signed on January 16, 2025 [1][2], marks a significant milestone for Recharge as it positions itself for aggressive expansion in the prepaid payments sector. The company, founded in 2010 [1], has demonstrated strong market performance with a 30% year-on-year revenue growth in 2024 [1][2][5] and ambitious targets to achieve over €1 billion in sales by the end of 2025 [1][3].

M&A Strategy and Market Consolidation

Building on its successful acquisition of Startselect in 2023 [1][3], Recharge plans to leverage this new funding alongside its existing cash reserves to create a substantial war chest for strategic acquisitions [1][5]. The company has explicitly stated its intention to close two to three acquisition deals within 2025 [1][2][5], focusing on integrating high-potential businesses in key markets to strengthen its leadership position in the prepaid payments industry.

Digital Innovation and Market Position

Recharge’s platform currently integrates over 16,000 digital vouchers and branded prepaid money solutions [3], including mobile phone top-ups, gift cards, gaming cards, and prepaid money cards. CEO Günther Vogelpoel emphasizes that this facility comes at a pivotal time for the company [1][2][6], enabling them to reshape the prepaid payments landscape on their own terms.

ABN AMRO’s Strategic Investment

For ABN AMRO, this partnership aligns with their strategic vision to become the preferred tech bank in the Netherlands and North West Europe [2][3]. Bas Janssen, senior banker with ABN AMRO, expressed confidence in Recharge’s growth trajectory [1][2], highlighting the bank’s commitment to supporting digital transformation in the financial sector.

Bronnen

fintech acquisitions