Amsterdam prepaid payments company Recharge secures €45M to charge its M&A strategy

Amsterdam-based Recharge, a digital prepaid payment products provider, has secured €45M in financing from ABN AMRO to support its mergers and acquisitions (M&A) strategy.

Bas Janssen, Senior Banker for Digital and Consumer Clients at ABN AMRO, says, “ABN AMRO is proud to support Recharge as they continue to grow and innovate in the prepaid payments sector. ABN AMRO aims to become the preferred technology bank in the Netherlands and North-West Europe.”

“This partnership reflects our desire to support digital transformation – one of our three strategic pillars. We see great potential in Recharge’s growth trajectory as they expand their reach within the global prepaid payments sector.”

ABN AMRO, a Dutch bank headquartered in Amsterdam, provides financial products and services to retail, private, and corporate clients both in the Netherlands and internationally. Its corporate banking strategy emphasises digital transformation, mobility, and energy transition.

Capital utilisation

Recharge will use the funds to consolidate its market presence and strengthen its position in the prepaid payments sector. The company will also support its growth strategy through acquisitions. 

With cash flow from its operations and a large capital buffer, Recharge says it is well-positioned to pursue acquisitions in various markets. In 2025, it plans to complete two to three deals.

Recharge’s CEO, Günther Vogelpoel, says, “This new facility comes at a crucial time for Recharge as we enter the next phase of growth as a company. I look forward to working with ABN AMRO, which will give us the additional momentum to further accelerate our ambitions.”

With over 30 per cent revenue growth in 2024 and increasing market demand, Recharge aims to reach €1B in sales by 2025.

Brief about Recharge

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 providing consumers with financial control and flexibility. 

Recharge has raised over $75M in Series A and B funding. In September 2023, the Amsterdam company acquired Starselect, a Dutch digital gift card marketplace.