Recharge obtains GBP 38 million from ABN AMRO

By receiving this funding, Recharge is set to be able to advance consolidation across markets, open additional segments, and solidify its position in the prepaid payments industry. Also, the GBP 38 million facility comes as part of an extensive strategy to utilise strategic acquisitions as a growth driver.

Since the start of its operations, Recharge has been focusing its efforts on improving the prepaid payments industry by connecting brands with customers through unified platform solutions. The company allows stored value products to be obtained regardless of location and time through its multi-country digital storefronts.

Recharge’s development strategy

By merging the facility with Recharge’s cash reserves, and coming after previously secured funding rounds, the deal is set to support identifying and integrating high-potential businesses in several markets. As per the information detailed in the official press release, the company intends to close a minimum of two to three deals in 2025. In its tender process, Recharge received a range of proposals, however, ABN AMRO emerged as the preferred partner. The bank supports Recharge’s strategic market approach, with this playing an important role in obtaining the deal.

Furthermore, commenting on the announcement, representatives from ABN AMRO underlined that the partnership with Recharge highlights the bank’s commitment to assisting digital transformation in the industry. The financial institution plans to facilitate Recharge’s growth trajectory as the latter broadens its reach within the global prepaid payments space. Recharge mentioned that the new facility comes during a time when the company enters the next phase of its expansion journey. Collaborating with ABN AMRO is set to allow the firm to accelerate its growth and work on optimising the prepaid payments landscape.