Recharge Secures €45 Million for M&A Strategy

Recharge, a leading European prepaid payments provider, has secured a €45 million financing deal from ABN AMRO to enhance its mergers and acquisitions (M&A) strategy and expand into fintech services. With a reported 30% revenue growth for 2024, Recharge aims to consolidate its market position and reach over €100 million in revenue by 2025. The funding will facilitate potential acquisitions, as Recharge looks to capitalize on a rapidly growing prepaid card market expected to increase from $251 billion in 2023 to $395 billion by 2028. Recharge's CEO, Günther Vogelpoel, expressed optimism about leveraging this investment to accelerate growth through strategic partnerships. The collaboration reflects ABN AMRO's commitment to supporting digital transformation within the financial sector, aligning with its goal to become a preferred technology bank in the region. Both companies see significant potential in the evolving prepaid payments landscape as consumer demand for alternative payment methods continues to rise amidst high inflation.