Recharge Accelerates B2B Expansion with Giftcloud Acquisition

Recharge, a leading European prepaid payments company, has announced its acquisition of Giftcloud Limited from Groupon, Inc. This acquisition marks a significant strategic shift for Recharge as it seeks to expand its footprint in the burgeoning B2B rewards market. Leveraging Giftcloud's robust customer engagement platforms and existing brand partnerships with major companies such as Vodafone, Sky, and TalkTalk, Recharge aims to integrate and utilize Giftcloud's infrastructure to enhance its corporate offerings. This move is supported by a €45 million acquisition facility from ABN AMRO to bolster Recharge's international M&A strategy. As a result, Recharge not only strengthens its presence within the UK but also lays the foundation for broader expansion across Europe. This acquisition follows Recharge's successful purchase of Startselect in 2023, further cementing its position as a global leader in prepaid digital payments. Groupon's CEO, Dusan Senkypl, affirmed the strategic alignment of Giftcloud under Recharge's leadership, emphasizing the opportunity for growth and innovation. The acquisition underlines Recharge’s ambition to transform the prepaid payments landscape for both businesses and consumers.