Recharge Reports Exceptional 39% Sales Growth in 2024, Diversifying into B2B Market

Recharge Achieves 39% Sales Growth in 2024

Recharge, the leading European platform for digital prepaid payment product distribution, has recently announced remarkable financial results for its fiscal year 2024. With total sales reaching €695 million, the company saw a staggering growth of 39% compared to the previous year. As a key player in the digital prepaid payment sector, Recharge is not only revolutionizing how consumers access financial services but is also making strategic advances into the B2B landscape.

In a year marked by innovation and expansion, Recharge reported a net revenue of €73.6 million, reflecting a 32% increase year-on-year. The company also achieved a significant doubling of EBITDA, reaching €8.1 million, alongside a net profit of €7.5 million. These results are a testament to the scalability of Recharge’s platform and its disciplined approach towards profitable growth, which continues to be driven by investments in technology and product innovation.

One of the standout milestones for Recharge in 2024 was the launch of its next-generation platform. Designed to meet the evolving demands of the market, this state-of-the-art architecture facilitates faster partner integrations and enhanced product customization. Notably, it is set to unlock future capabilities such as embedded financing solutions and white-label offerings, thereby positioning Recharge at the forefront of financial technology.

The company is also making strides towards acquiring a payment institution license in the Netherlands, which is expected to expand its product offerings, allowing it to provide consumer financial services across Europe.

Günther Vogelpoel, the CEO of Recharge, commented on this impressive performance stating, “2024 has been a defining year for Recharge. We have fortified our market-leading position, laid the foundational infrastructure for future growth, and delivered strong performances across all sectors. The rising online demand for prepaid payment solutions connects leading brands with an increasing consumer base - and Recharge is perfectly poised to lead this shift. With our scale, profitability, and robust portfolio of innovations, we are ready for the next phase.”

As Recharge heads into 2025, it continues to harness strong momentum. The company has secured a €45 million acquisition financing facility from ABN AMRO, aimed at accelerating its inorganic growth strategy. This newfound financial agility will enable Recharge to pursue acquisitions that enhance its capacities across both B2C and B2B markets. The swift deployment of these funds was evidenced by the recent acquisition of Giftcloud, a UK-based platform dedicated to helping businesses thrive through digital rewards. This acquisition marks Recharge’s formal entry into the B2B space, opening up fresh opportunities to serve brands and businesses with digital solutions tailored for customer acquisition, engagement, and rewards.

Financial Director Freddy Dijkman reported, “We have reached a milestone in terms of profitability while continuing to invest in long-term capabilities. Our financial fundamentals remain strong, and the ABN AMRO credit facility provides us with the flexibility needed to accelerate our mergers and acquisitions program. Expanding regulated B2B services will make our business even more resilient and diverse — and this is just the beginning.”

Recharge now connects renowned brands with consumers in over 180 countries through its scalable global infrastructure. With a diverse range of over 16,000 digital prepaid payment products and a unified platform that spans Europe and beyond, the company is redefining the backbone of digital value distribution. Whether serving partners in B2C or B2B segments, Recharge delivers secure and compliant instant prepaid access, continually strengthening its market position.

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