- Recharge.com, which is based in Amsterdam and offers payments services to consumers, said that it had raised several million euros via a significant funding round – led by a firm called Kreos Capital.
- Recharge.com has also appointed former Azimo co-founder Michael Kent to the position of non-executive chairman.
- The firm said that it was looking forward to helping customers “fulfil their wishes” during the era of the on-demand economy, and that it would help both those who wanted to pay for services and also those who were sending money home.
The Amsterdam-based payments firm Recharge.com has confirmed that it has raised €10m via a debt funding round.
The round was led by Kreos Capital, which is a firm based in London that focuses on offering debt finance to companies that are high-growth in nature.
Recharge.com said that it would be building on its current provision in North America as a result of the investment, and would also be going into new areas of growth, such as Latin America.
Recharge.com also confirmed that it had appointed a new non-executive chairman.
Michael Kent, who is known in the industry for being a co-founder of the key online money transfer name Azimo, will take up the role.
He focused his comments on the changing word of digital payments – and said that “online branded payments” were now the way forward.
He contrasted this with alternative payment methods of the past, such as supermarket gift cards.
“The era of supermarket gift cards and mobile top-ups is drawing to a close,” he explained.
“Branded payments have exploded during the global lockdown as consumers seek digital alternatives to the high street.”
“People are now aware that online branded payments are safe, fast, and convenient.”
The firm also raised €22m back in 2019 – a round that was led by Prime Ventures.
Speaking on the topic of the latest funding round, the firm’s chief executive Günther Vogelpoel said that the new injection of cash – as well as new leadership in the form of Kent – would be of great use.
He added that the firm was there to help when it comes to providing payment solutions for on-demand services.
“We live in a world of instant wish fulfilment, from taxis that appear on demand to same-day delivery of consumer goods,” he said.
“Recharge.com gives customers a fast, safe and simple way to fulfil their wishes, whether that’s an essential remittance or access to digital goods and services.”
“With additional funding and new leadership, we’re ready to take our rapidly growing business to new audiences around the world.”
Recharge.com has now been in business for over a decade.
It was set up in 2010 by Robin Weesie and Dirk Ueberbach, and now works in more than 150 countries.
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