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European Fintech Recharge Initiates Consolidation of Prepaid Payments Market

Recharge, a company specializing in the prepaid payments industry, has announced its successful acquisition of Startselect, a European digital gift and gaming cards company. This strategic move positions Recharge to achieve a projected annual sales of 750 million EUR by 2024.

Since 2010, Recharge has been aggressively growing its online marketplace for digital gift cards and mobile top-ups. They were pioneers in offering easy online purchase of digital prepaid cards through their webshops and apps. Recognizing the demand for more convenient gift card purchases, Recharge has processed over 100 million transactions for satisfied customers worldwide.

The acquisition of Startselect is a significant milestone in Recharge’s M&A strategy to consolidate the digital prepaid payments market and solidify their global leadership position. Despite recent macroeconomic challenges, Recharge sees this as an opportunity for M&A activities and aims to close 2-3 more acquisitions within the next year.

Startselect has an established reputation for providing a high-quality digital marketplace for gamers, offering a wide range of gaming products. This acquisition strengthens Recharge’s diversified prepaid product offerings by adding Startselect’s stronghold in the gaming cards market.

Günther Vogelpoel, CEO of Recharge, expressed confidence in the value of this combination and welcomed the Startselect team to the Recharge family. With their combined strengths and capabilities, Recharge aims to establish a powerful competitive position in the industry and provide an even better service to prepaid users worldwide.

Max Gudden, the Founder of Startselect, shared his pride in the team for making this milestone possible and looks forward to reaching new heights as part of Recharge.

This acquisition follows Recharge’s recent expansion into the U.S. and Canada with Blackhawk. Startselect will contribute to Recharge’s consumer label offering, which includes their global shop Recharge.com and country-specific labels Beltegoed.nl, Recharge.fr, Guthaben.de, Herladen.com, and Mobiletopup.co.uk.

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