Record Dutch fintech deal: Coda completes acquisition of Amsterdam’s Recharge, reportedly for at least €400M

The Singapore-based payments company announced the largest fintech acquisition in Dutch history.

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Singapore-based Coda, a digital content monetisation platform, announced that it has completed its acquisition of Recharge, an Amsterdam-based prepaid payments platform.

The transaction marks the largest fintech acquisition in Dutch history, reports FD.nl. According to the report, Recharge has been sold for at least €400M.

The news comes over a month after Coda’s announcement on the signing of a definitive agreement to acquire Recharge.

The transaction is supported by Apis Partners, Insight Partners, Smash Capital, and Coda’s other investors.

What’s after acquisition?

The acquisition results in a partnership focused on distributing and monetising digital content and prepaid products in sectors like mobile gaming, entertainment, and lifestyle.

Additionally, the combined business is positioned to deliver greater value for both partners and consumers, capture new market share, and define the next chapter of the digital commerce industry.

Together, the combined company serves more than 200M users in over 180 markets and processed $1.75B in sales in 2024. It is on track to surpass that performance in 2025. 

Recharge’s brands, including Recharge.com, Startselect and Giftcloud, along with Coda’s solutions — Codapay, Custom Commerce, Codashop, and Coda Distribution, will continue to operate without disruption. 

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.

Günther Vogelpoel, Chief Executive Officer of Recharge, says, “Recharge brings a strong consumer engine, trusted brands, and a talented team — and now, as part of Coda, we can take that to a truly global stage. Together, we have the scale, reach, and complementary strengths to create even more value for our partners and customers worldwide. Closing this deal marks the beginning of an exciting new chapter for our businesses together.”

Coda: Digital content monetisation

Founded in 2011, 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.

Shane Happach, Chief Executive Officer of Coda, says, “Closing this acquisition marks a major milestone in Coda’s growth journey. Recharge adds a strong consumer business, a talented team, and a product portfolio that fits seamlessly alongside ours. We now have the scale, reach, and capabilities to create new opportunities for our partners and customers worldwide — and our immediate focus is on working together to unlock that potential.”