Amsterdam’s Recharge acquires UK’s Giftcloud from Groupon: Know more

Amsterdam-based Recharge, a company specialised in prepaid payments, has acquired Giftcloud Limited from Groupon, Inc, to accelerate its expansion into the fast-growing B2B rewards space.

Based out of the UK, Giftcloud is a digital rewards platform helping businesses engage, acquire, and retain customers through branded prepaid incentives.

The platform offers branded digital campaigns that boost marketing and employee engagement for top UK companies like Vodafone, Sky, and TalkTalk.

Why this acquisition?

With Giftcloud’s acquisition, Recharge can offer a broad range of services directly to business clients.

It also marks a significant expansion of Recharge’s footprint in the UK, now the company’s third-largest market, and the launchpad for further B2B growth across Europe.

The acquisition follows Recharge’s recent €45M acquisition facility secured with ABN AMRO to fuel its international M&A activity.

Giftcloud supports customer and employee engagement for major UK brands like Vodafone, Sky, and TalkTalk.

With millions of transactions each year and a strong profit record, Giftcloud offers Recharge a successful B2B model and a platform to grow its corporate prepaid services.

Groupon’s CEO Dusan Senkypl, adds, “We’re proud to have found a strong new home for Giftcloud within the Recharge Group. Giftcloud has always played a valuable role in helping brands engage their customers through digital rewards. We’re excited to see the platform continue to grow as part of a business that is fully focused on prepaid and digital innovation.”

Recharge: Prepaid payments platform

Founded in 2010 by Robin Weesie and Dirk Ueberbach, Recharge is a global prepaid payments platform offering an all-in-one digital solution.

It connects brands and consumers through secure and scalable distribution of over 16,000 products, including gift cards and prepaid solutions.

The platform helps businesses access new revenue streams while giving consumers financial control and flexibility. 

“This move is a deliberate step into B2B,” says Günther Vogelpoel, CEO of Recharge. “We see huge potential for prepaid in customer acquisition, loyalty , and employee engagement. Giftcloud gives us a foundation to grow that proposition further in the UK and across Europe—backed by Recharge’s digital infrastructure, partnerships, and international reach.”