Recharge, based in Amsterdam, has acquired Giftcloud Limited from Groupon, marking a strategic entry into the rapidly growing B2B rewards sector. Giftcloud, a UK-based digital rewards platform, helps businesses engage customers via prepaid incentives. This acquisition not only strengthens Recharge's service offerings to business clients but also expands its footprint in the UK, now its third-largest market. With significant backing through a €45M acquisition facility from ABN AMRO, Recharge is positioned for further growth in corporate prepaid services across Europe.
Groupon's CEO Dusan Senkypl stated, "We're proud to have found a strong new home for Giftcloud within the Recharge Group. Giftcloud has always played a valuable role in helping brands engage their customers through digital rewards. We're excited to see the platform continue to grow as part of a business that is fully focused on prepaid and digital innovation."
Recharge's recent acquisition of Giftcloud signals a strategic move to enhance its presence in the B2B rewards space, marking a significant growth opportunity in the UK.
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