Recharge Expands into B2B with Giftcloud Acquisition

Recharge, a leading European prepaid payments firm based in Amsterdam, has acquired Giftcloud Limited, a company headquartered in Bristol, from Groupon, a NASDAQ-listed ecommerce platform. This acquisition signifies Recharge's strategic move to accelerate its expansion into the fast-growing B2B rewards sector. Giftcloud, recognized for its robust customer and employee engagement campaigns, supports major UK brands and processes millions of transactions annually. The acquisition is backed by a recent €45 million facility secured with ABN AMRO to facilitate Recharge's international M&A activities. According to Recharge CEO Günther Vogelpoel, this acquisition marks a move into the B2B sector with the potential to enhance customer acquisition, loyalty, and employee engagement through prepaid solutions. Giftcloud is expected to bolster Recharge's corporate prepaid offerings and help establish its position as a global leader in prepaid payment services, leveraging Giftcloud's scalable platform and Recharge's existing digital infrastructure and international reach.