Payment platform Recharge charges up to $35 million

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Recharge.com (Netherland-based company), Europe’s leader in online consumer-prepaid payments operating in 150+ markets worldwide, had announced $35 million Series B round funding. The funding was led by SmartFin and Prime Ventures, and Kreos Capital. Smartfin, a Belgium-based capital investor, is a leading European venture capital that has made 34 investments so far. Their investment approach is diversified, and they always choose innovative investment opportunities where other investors hesitate to go.

They have partnered with various stakeholders in Europe. For an early-stage investment, Smartfin has partnered with Pitchdrive. Recharge always focuses on the European region as their team expertise lies in this region. This large amount of funding for a new Dutch start-up Recharge will help them to grow sky-high. The company claimed that it was the biggest investment round for a Dutch start-up in that year. They are funded with a total amount of $96.8M till now. $ 35 million is their most recent funding amount.

Recharge was founded in 2010. The new investment will jump up its US market entry with the fire-up position in existing markets of Asia, Latin America, and the Middle East. They are highly ambitious and have already started their journey in North America. Recharge is planning a selection of new features and services in its mobile application. They make online recharge possible from anywhere in the world at any time, whether it is smartphone recharge, gaming, or entertainment. They have collaborated with 750 brands. With this collaboration, they make their customers recharge easily, quickly, and simply.

Recharge partnered with gaming, telecom, and entertainment brands that have a big names in the market. This collaboration has resulted in activating millions of customers across the globe. They follow four rules of their expertise to keep their business growing. These rules directly give profit to their branded partners. The first rule is Smart marketing; this tactic will always retain the customers, either existing, potential, or new. With smart marketing technology, they identify untapped customers and target them by communicating individually. Their in-house team manages all things.

Category managers work closely with brands and their campaign teams. This helps brands increase their revenue by increasing purchase size or supercharging purchase orders. The second one is Payment and Fraud, and they call themselves experts. They have their own proprietary payment technology, partnered with PSPs, and have excellent knowledge of true fraud experts. Recharge has recorded the highest payment acceptance rates in the industry. The third one is Cutting Edge Technology. They have a highly scalable, state-of-the-art proprietary platform that can handle millions of orders worldwide. Their passionate tech team works continuously to improve the platform’s user experience to ensure it remains genuinely world-class. The last one is Global reach local relevance, which means reaching customers in every corner of the world by adapting each region’s local needs, values, languages, consumer habits, and payment methods. They ensure that the product stays relevant anywhere and everywhere.

The market of branded payment has shown a rapid growth curve in recent years. It is estimated to be worth $3+ trillion today and rising to $5 trillion by 2025. By surpassing- geography and demographics of all ages and income brackets- consumers all over the world are shifting to branded payments to support their financial transactions. From call credit to gift cards, its rising popularity goes beyond gifting and support. The branded payment is the fundamental way by which you can manage payments as well as protect your data. It offers a flexible approach to engaging with brands and making digital payments. The most important feature is that they don’t require a bank account as debit and credit cards do, so it is becoming an essential option for billions of underbanked people.

During this global pandemic, contactless way to pay for goods and services has become very popular. Nowadays, data privacy concerns are also becoming a significant problem, and branded payments are putting the control back in the customer’s hands. Consumers can use anonymous data while making online purchases, but it doesn’t mean that they have something unlawful to hide. Branded payment allows consumers to spend money on their own terms. Recharge established itself as a global leader in branded payments. By partnering with them, anyone can be part of this journey. The pandemic has shifted the world from a physical to a virtual world. The Brick and Mortar sales point is getting cast out, leading to Recharge in a confident position. Recharge is providing access to digital prepaid credit, regardless of distance, location, or time.

Recharge supports over 2.5 million people every year and happily connects customers with pre-payment methods for leading global brands. They are offering branded payment for over 750 brands in one place. Vouchers from different brands like Apple, Google, Spotify, Xbox, PlayStation, and Netflix are offered. Cross-border product transfer, another new feature of Recharge, is making millions of life more manageable. They are even operating in regions where it takes work to do a traditional transfer. In this way, they are disrupting traditional players worldwide. Data breach is also a concern nowadays, but with Recharge, there is no need to share any personal information. The company is growing 50% year by year and estimated to set foot on over $1 billion by the next two coming years.

Recharge CEO, Günther Vogelpoel, says SmartFin founder Jürgen Ingels will join Recharge’s board of directors, following the investment. “Mr. Ingels’s impressive track record in payments will be a great support for Recharge in the next phase of our growth.” Ingels adds: “The Recharge platform as branded payment infrastructure provides a perfect basis to expand to other kinds of offerings.” After looking at different European players, we believe that Recharge offers a great opportunity within the payment space. Integrating brands and payments while providing maximum flexibility to the customer is the way to go. “I’m personally excited to get again involved in a sector I love, and I look forward to contributing to the further international growth of Recharge.”

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