Dutch paytech Recharge has acquired European digital gift and gaming cards company, Startselect, in a move to diversify its product offering and consolidate its position in the digital prepaid payments market.
Facts
- Recharge has acquired Startselect, a European digital gift and gaming cards company, for an undisclosed sum.
- The acquisition includes the entire Startselect platform, known for distributing prepaid gift cards, especially for gaming brands.
- Recharge aims to diversify its product offerings as part of its aggressive growth strategy.
- Startselect will expand Recharge’s consumer label offerings and country-specific labels, including Beltegoed (Netherlands), Guthaben (Germany), and Mobiletopup (UK).
- Recharge anticipates generating €750 million in annual sales next year, bolstering its position in the digital prepaid payments market.
- The deal includes the Startselect workforce, consisting of just over 50 employees.
- Recharge plans to continue expanding its presence globally after its recent expansion to the US and Canada.
- Recharge also intends to complete two to three more acquisitions within the next year, further enhancing its market position.
