European branded payments startup Recharge raises $11.8M debt round led by Kreos Capital

European branded payments startup Recharge raises $11.8M debt round led by Kreos Capital

3 years ago
Anonymous $hYN7Hy7o7J

https://techcrunch.com/2021/03/25/european-branded-payments-startup-recharge-raises-11-8m-debt-round-led-by-kreos-capital/

Online branded payments now run the gamut of anything from Spotify vouchers, Netflix vouchers, Neosurf, PaySafe cards, and everything in between. Consumers use them to pay for a variety of things. In Europe, they are an increasingly big business. Now, European branded payments company Recharge.com has raised €10m ($11.8m) in a debt funding round led by London-based Kreos Capital, a growth debt provider for high-growth companies. In 2019 the Dutch fintech Creative Group, which owns the Recharge.com and Rapido.com brands, took investment of €22m from Prime Ventures.

Recharge has also appointed Michael Kent – who previously founded payments companies Small World and Azimo, along with UK neobank Tandem – as its non-executive chairman.

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