Recharge Secures €45m to Boost Acquisition Strategy
Deal News | Jan 20, 2025 | EIN
Amsterdam-based fintech firm Recharge has secured a €45m debt facility from Dutch bank ABN AMRO to fuel its mergers and acquisitions strategy, aimed at strengthening its leadership in the prepaid payments sector. Founded in 2010, the tech company employs approximately 150 staff and focuses on online prepaid payments. With a reported 30% year-on-year revenue growth in 2024, Recharge projects over €1bn in sales by 2025. The funding will aid Recharge's consolidation efforts in various markets and the expansion into new segments, with intentions to finalize two to three acquisitions within the year. Recharge's CEO, Günther Vogelpoel, expressed confidence in the partnership with ABN AMRO, highlighting its potential to expedite growth initiatives and transform the prepaid payment landscape. The company previously acquired Startselect in 2023 and has raised capital from past investors such as Prime Ventures, SmartFin, and Kreos Capital.
Sectors
- Financial Technology (FinTech)
- Banking
Geography
- Netherlands – Recharge is based in Amsterdam, Netherlands, and has secured funding from the Dutch bank ABN AMRO.
Industry
- Financial Technology (FinTech) – Recharge is a fintech company focusing on online prepaid payments, indicating its direct involvement in the financial technology sector.
- Banking – ABN AMRO, a prominent banking institution, is involved as a lender, representing the banking industry.
Financials
- €45m – Debt facility secured by Recharge from ABN AMRO.
- 30% – Year-on-year revenue growth reported by Recharge for 2024.
- €1bn – Recharge's projected sales target for 2025.
- €22m – Funding raised by Recharge in 2019 from Prime Ventures.
- $35m – Funding round closed by Recharge in 2021, led by SmartFin, Prime Ventures, and Kreos Capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Recharge | Target | Company | A fintech start-up focusing on online prepaid payments, looking to expand through acquisitions. |
| ABN AMRO | Lender | Company | Dutch bank providing a €45m debt facility to support Recharge's acquisition strategy. |
| Günther Vogelpoel | CEO | Person | CEO of Recharge, overseeing the company's growth and acquisition strategy. |
| Bas Janssen | Senior Banker | Person | Senior banker at ABN AMRO involved in the funding deal with Recharge. |
| Prime Ventures | Investor | Company | Previously invested in Recharge during a funding round in 2019. |
| SmartFin | Investor | Company | Led a funding round for Recharge in 2021. |
| Kreos Capital | Investor | Company | Participated in a funding round for Recharge in 2021. |
| Startselect | Acquired Company | Company | A Dutch digital gift and gaming cards company acquired by Recharge in 2023. |