#None #Recharge #Giftcloud #B2B Expansion

Recharge Reports Record Growth and Strategic Shift to B2B

Recharge, a leading European distributor of digital prepaid payment products, recently celebrated its most successful year to date, marking significant financial milestones in 2024. The company recorded a remarkable 39% increase in total sales, reaching €695 million, accompanied by a 32% rise in net income that led to earnings of €73.6 million. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw impressive growth, doubling to €8.1 million, with a net profit reaching €7.5 million. These achievements underscore Recharge's commitment to scalable and profitable growth while investing in technology, operational capacities, and product innovation.

A pivotal development during the year was the launch of Recharge's next-generation platform, tailored to meet evolving market demands. This new infrastructure facilitates faster onboarding of partners and greater product customization, equipping the company to leverage future capabilities such as integrated finance and white-label offers. Furthermore, Recharge made significant strides in securing a payment institution license in the Netherlands, which expands the product offerings to include financial services for consumers throughout Europe.

CEO Günther Vogelpoel stated, “2024 was a watershed year for Recharge. We fortified our market leadership, launched fundamental infrastructure for future growth, and achieved solid performance across the board. The online demand for prepaid payment solutions is accelerating as we connect leading brands with more consumers. Recharge is well-positioned to lead this transformation.”

The company enters 2025 with robust momentum, having secured a €45 million acquisition credit line from ABN AMRO to expedite its inorganic growth strategy. This funding enhances Recharge's ability to make acquisitions that broaden its reach and capabilities in both B2C and B2B markets. The acquisition of Giftcloud, a UK-based platform that supports business growth through digital rewards, has formally marked Recharge's entrance into the B2B sector, opening up new opportunities to provide brands and businesses with digital solutions for customer acquisition, retention, and rewards.

Chief Financial Officer Freddy Dijkman highlighted, “We have achieved a radical shift in profitability while continuing to invest in long-term capabilities. Our financial fundamentals are strong, and the ABN AMRO credit line gives us the flexibility to accelerate our M&A agenda. Expanding into the B2B sector and regulated financial services will make our business more resilient and diversified, and this is just the beginning.”

Recharge now connects well-known brands with consumers in over 180 countries through its scalable global infrastructure. Boasting more than 16,000 digital prepaid products and a unified platform that spans Europe and beyond, the company is solidifying the foundation of digital value distribution, providing partners in both B2C and B2B sectors with instant, secure, and compliant access to prepaid solutions.

About Recharge

Recharge is a global prepaid payment platform that connects brands with consumers through a unified digital infrastructure. With both B2C and B2B operations, the group offers branded prepaid products anytime and anywhere via its stores in various countries, such as Recharge.com and Startselect.com. Following the acquisition of Giftcloud, Recharge also provides digital rewards and incentives for businesses seeking to attract, retain, and reward customers. Operating in over 180 markets, Recharge drives global digital distribution of prepaid products through a unique and scalable platform. For more information, visit company.recharge.com.