Digital gift card services company Recharge has partnered with Dutch bank ABN Amro to fund its M&A strategy.

Recharge has secured a €45 million facility from the bank, which it said would enable the company to consolidate its markets, open new segments, and strengthen its position in the prepaid payments industry.

It says that along with its current cash reserves and previous funding rounds, it has created a “substantial war chest” to integrate high potential businesses in key markets, with the business expecting to strike a deal with two or three companies by the end of the year.

The gift card company says that the prepaid sector is evolving thanks to the shift towards online payments and innovative use cases which are changing the way businesses and customers use prepaid payment services.

Recharge added that it experienced 30 per cent revenue growth last year, with the firm expecting to reach over €1 billion of sales in 2025.

“This new facility comes at a pivotal time for Recharge as we embark on the next phase of our journey,” said Günther Vogelpoel, chief executive at Recharge. “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.”

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