The partnership creates a formidable M&A war chest, enabling Recharge to seize opportunities in consolidating the prepaid payments industry.
LONDON, Jan. 16, 2025 /PRNewswire/ -- Recharge, the European leader in online prepaid payments, has secured a €45 million facility with ABN AMRO to fuel its ambitious M&A strategy. This funding will enable the company to drive consolidation across markets, open new segments and overall strengthen its leadership position in the prepaid payments industry.
The €45 million facility is part of a broader strategy to leverage strategic acquisitions as a growth driver. Combined with Recharge's robust cash reserves, and following previous funding rounds, it has created a substantial war chest for M&A and aims to close two to three deals in 2025.
The competitive tender process attracted a range of proposals, with ABN AMRO emerging as the preferred partner. The bank's confidence in Recharge's market potential and alignment with their strategic approach were key factors in securing the deal.
Bas Janssen, senior banker Digital and Consumer clients, ABN AMRO, said: "ABN AMRO is proud to support Recharge as they continue to scale and innovate in the prepaid payments sector. ABN AMRO is on a trajectory to become the preferred tech bank in the Netherlands and North West Europe. This collaboration reflects our appetite to support digital transformation -one of our three strategic pillars. We see great promise in Recharge's growth trajectory as they broaden their reach within the global prepaid payments space."
Recharge's CEO, Günther Vogelpoel, highlighted the company's future outlook:
"This new facility comes at a pivotal time for Recharge as we embark on the next phase of our journey. I am excited to partner with ABN AMRO, whose support enables us to accelerate our growth strategy and reshape the prepaid payments landscape on our terms."
The prepaid payments sector is evolving rapidly, fuelled by the shift from offline to online and the emergence of innovative use cases. Recharge's unified digital solutions are at the forefront of this change, redefining how people and businesses leverage prepaid payment products. With 30% year-on-year revenue growth in 2024 and growing demand for its digital prepaid solutions, the company has the ambition to reach €1bn of sales in 2025.
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