Apis Partners Led Coda Acquisition of Recharge to Create Global Payments Powerhouse
Deal News | Jul 17, 2025 | Apis Partners LLP
Funds managed by Apis Partners have spearheaded the acquisition of Recharge, a leading prepaid payments entity in Europe, by Coda, an eminent player in digital content monetization in the Asia-Pacific. This tactical alliance of two regional stalwarts aims to forge a comprehensive global payments platform benefiting developed and emerging markets alike. With a consolidated presence in 180+ markets, the platform will cater to over 200 million users, facilitating a seamless path from user intent to transaction, and amplifying global brand revenues. Apis Partners managed the acquisition through its Apis Growth Fund II and Apis Global Growth Fund III, marking its 15th investment in the financial infrastructure domain, reinforcing its commitment to financial inclusion through innovative investment strategies. This acquisition not only aims at business growth but also delivers on societal commitments like emission reduction through paperless transactions. As this deal advances to its expected close in Q3 2025, pending regulatory approvals, Apis Partners remains poised to support Coda's expansive trajectory.
Sectors
- Financial Services
- Technology
Geography
- United Kingdom – Apis Partners is headquartered in London, and its funding and strategic initiatives are orchestrated from the UK.
- Asia-Pacific – Coda, based in Singapore, represents the Asia-Pacific region, a key player in this strategic acquisition.
- Europe – Recharge, located in the Netherlands, provides critical insights into the European market landscape affected by the acquisition.
Industry
- Financial Services – The article focuses on transactions and business strategies around payments and financial intermediaries, directly falling under the financial services industry.
- Technology – The integration of digital payment systems and monetization platforms defines the overlap with the technology sector, particularly focusing on the tech-driven evolution of financial services.
Financials
- c.US$2.1 billion – Assets under management by Apis Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Coda | Bidding Company | Companies | Coda is a prominent digital content monetization company based in Singapore. |
| Recharge | Target Company | Companies | Recharge is a leading prepaid payments company based in the Netherlands. |
| Apis Partners | Private Equity Firm | Companies | Apis Partners is a global private equity firm investing at the intersection of financial services and technology. |
| Insight Partners | Existing Shareholder | Companies | Insight Partners is a private equity firm that specializes in growth-stage investing. |
| Smash Capital | Existing Shareholder | Companies | Smash Capital is a private equity firm involved in this funding round. |
| Perella Weinberg Partners | Advisor | Companies | Provided advisory services to Apis Partners for the transaction. |