ABN AMRO provides Recharge with €45 million credit facilities
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ABN AMRO has provided financing of €45 million to Recharge, a key player in the European market for online prepaid payments. This financing supports Recharge in strategic acquisitions and entering new markets. The company aims to further strengthen its position in the prepaid payments sector.
Recharge manages the digital distribution of prepaid products, such as gift cards, and streamlines these processes through a single portal. With the financing from ABN AMRO, Recharge expects to complete three strategic acquisitions this year and further consolidate its market position.
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.”
Bas Janssen, senior banker Digital and Consumer clients, ABN AMRO, says: “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 the 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.”
The prepaid payments sector is evolving rapidly. 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 aims to reach over EUR 100 million revenue in 2025.
The financing underscores ABN AMRO's commitment to promoting technological advancement and supporting the growth of the digital payments industry.