Recharge collaborates with ABN AMRO for £38 million to enhance M&A efforts in fintech industry
Recharge, a prominent player in the online prepaid payments space in Europe, made an announcement today regarding its successful acquisition of a £38 million facility from ABN AMRO. This substantial funding injection is earmarked to support Recharge’s aggressive merger and acquisition (M&A) strategy. By strategically utilizing this financial boost, Recharge aims to solidify its market presence, explore new sectors, and drive industry consolidation.
The £38 million facility is a pivotal component of Recharge’s broader growth plan, which includes utilizing acquisitions as a catalyst for expansion. With an already robust cash reserve and prior successful funding rounds, Recharge is now well-equipped with the necessary resources to identify and integrate lucrative businesses in key markets. The company envisions finalizing two to three significant deals throughout the year 2025.
Following a competitive selection process, ABN AMRO emerged as the preferred financial partner for Recharge. The bank’s confidence in Recharge’s market positioning and strategic vision played a decisive role in solidifying this collaboration. Bas Janssen, the senior banker overseeing Digital and Consumer clients at ABN AMRO, shared his enthusiasm for this partnership. He emphasized ABN AMRO’s commitment to supporting digital transformations and highlighted the potential growth opportunities within the prepaid payments sector that Recharge embodies.
Günther Vogelpoel, the CEO of Recharge, articulated his excitement about the company’s future trajectory. Vogelpoel underscored the pivotal nature of this new facility in propelling Recharge towards its next phase of growth and transformation. The collaboration with ABN AMRO is poised to accelerate Recharge’s strategic goals and enable them to reshape the prepaid payments landscape according to their vision.
The prepaid payments industry is experiencing a rapid evolution, driven by the transition from offline to online transactions and the emergence of innovative payment solutions. Recharge stands at the forefront of this industry shift with its integrated digital payment offerings. With a remarkable 30% year-on-year revenue growth in 2024 and a rising demand for its digital payment solutions, Recharge is targeting to achieve €1 billion in sales by the end of 2025. This ambitious sales target reflects Recharge’s confidence in its market positioning and the potential for continued growth and success within the prepaid payments sector.
