Singapore-based Coda, a global leader in digital content monetisation platform, has signed a definitive agreement to acquire Recharge, an Amsterdam-based prepaid payments platform.
The acquisition helps Coda expand beyond gaming and enhances its ability to serve a wider digital content market across different categories and regions. It increases Coda’s presence in Europe and strengthens its direct sales capabilities.
For Recharge, the deal provides valuable B2B experience, stronger partnerships with leading digital content publishers, and a solid plan for growth in fast-growing markets, especially in Asia.
From premium content to prepaid products, this transaction brings together payments expertise, publisher and brand partnerships, and broad consumer reach, opening up real opportunities for cross-selling and deeper market access.
Based on the 2024 figures, the combined company is expected to process over US$1.75B in sales, serve more than 200 million customers, and operate in over 180 markets, creating a strong global presence from the start.
2024: Recharge’s strongest year to date
It’s interesting to note that the Amsterdam company reported €73.6M in net revenue for 2024 — a 32 per cent increase compared to the previous year. Additionally, the company has doubled its EBITDA to €8.1M.
The Dutch company calls it the best financial year to date.
Earlier this year, Recharge secured €45M in financing from ABN AMRO to support its mergers and acquisitions (M&A) strategy.
Leveraging the funding, the Dutch company acquired Giftcloud Limited from Groupon, Inc, back in April.
Recharge: Prepaid payments platform
Founded in 2010 by Robin Weesie and Dirk Ueberbach, Recharge is a global prepaid payments platform offering an all-in-one digital solution.
It connects brands and consumers through secure and scalable distribution of over 16,000 products, including gift cards and prepaid solutions.
The platform helps businesses access new revenue streams while giving consumers financial control and flexibility.
“At Recharge, we’ve focused on building the technology platform that connects and scales the prepaid payments ecosystem, enabling seamless transactions between users, products, and brands through smart, data-driven infrastructure,” says Günther Vogelpoel, CEO of Recharge. “That focus, combined with a passionate team that consistently executes with precision and pace, has allowed us to scale a profitable and trusted business across Europe and beyond.”
Coda: Digital content monetisation
Coda is a provider of digital content monetisation, working with over 300 publishers such as Activision, Electronic Arts, and Riot Games to help them increase their audiences and revenue.
With a network of over 400 local payment channels, Coda offers consumers better value and more choice.
For publishers, Coda simplifies global growth, managing risk, compliance, and customer support as the Merchant of Record.
The company offer several services, including:
Custom Commerce: A customizable online store.Codapay: A payment system that integrates with publishers’ websites.Codashop: A marketplace for gamers to buy in-game content.Distribution: A network that helps extend the reach of content.
Founded in 2011 and based in Singapore, Coda has a team of more than 400 employees globally. The company is supported by Apis Partners, Insight Partners, and Smash Capital.
“We’ve long admired what the Recharge team has built — a profitable, consumer-focused business with top global brands and real depth across Europe,” says Shane Happach, CEO of Coda.
“This transaction brings together two regional commerce leaders with distinct but highly complementary strengths. At Coda, we’ve focused on scaling our B2B capabilities, working with the world’s leading digital publishers to maximise their revenue, particularly in high-growth, complex markets across Southeast Asia. Recharge adds a powerful direct-to-consumer engine, deep prepaid expertise, and strong brand equity across Europe. Most importantly, we’re bringing together two teams that share the same values: ambition, collaboration, and commercial sharpness. That gives us a strong foundation to lead the next chapter in global digital content distribution and monetisation,” adds Happach.
