Recharge, an Amsterdam-based fintech startup focused on online prepaid payments, today announced it has secured a €45 million facility with ABN AMRO to fuel its 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.
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.”
Founded in 2010, they have raised over €72.9 million across Series A and B funding rounds to date.
The €45 million facility is part of a broader strategy to leverage strategic acquisitions as a growth driver. Combined with Recharge’s cash reserves, and following previous funding rounds, it has created a substantial “war chest” for identifying and integrating high-potential businesses in key markets.
The company aims to close two to three deals in 2025.
The 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.
ABN AMRO is a leading Amsterdam bank, it serves retail, private, and corporate clients across the Netherlands and internationally. Its corporate banking strategy focuses on three transition themes: digital, mobility, and energy transition. The bank’s strategy is committed to driving positive social impact and sustainable progress.
Bas Janssen, senior banker Digital and Consumer clients, ABN AMRO, expressed his enthusiasm: “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.”
With 30% year-on-year revenue growth in 2024 and growing demand for its digital prepaid solutions, Recharge has the ambition to reach €1bn of sales in 2025.
Read the orginal article: https://www.eu-startups.com/2025/01/supercharged-recharge-prepaid-payment-provider-recharge-raises-e45-million-facility/
