Recharge leaps into B2B with UK Giftcloud acquisition

The deal follows Recharge's recent €45M acquisition facility secured with ABN AMRO to fuel its international M&A activity. Giftcloud powers customer and employee engagement campaigns for major UK brands including Vodafone, Sky and TalkTalk. With millions of transactions processed annually and a strong record of profitability, Giftcloud brings Recharge a proven B2B model and a scalable platform to grow its corporate prepaid offering.

"This move is a deliberate step into B2B," said Günther Vogelpoel, CEO of Recharge. "We see huge potential for prepaid in customer acquisition, loyalty and employee engagement. Giftcloud gives us a foundation to grow that proposition further in the UK and across Europe—backed by Recharge's digital infrastructure, partnerships and international reach."

The acquisition plays a key role in Recharge's strategy to build the global leader in prepaid payments - serving both consumers and businesses. With Giftcloud, Recharge will be able to offer a broad range of services direct to business clients. It also marks a significant expansion of Recharge's footprint in the UK, now the company's third-largest market and the launchpad for further B2B growth across Europe.

Groupon's CEO Dusan Senkypl, added: "We're proud to have found a strong new home for Giftcloud within the Recharge Group. Giftcloud has always played a valuable role in helping brands engage their customers through digital rewards. We're excited to see the platform continue to grow as part of a business that is fully focused on prepaid and digital innovation."

This is Recharge's second major acquisition, following the successful integration of Startselect in 2023.