A European leader in prepaid payments has acquired Giftcloud Limited from NASDAQ-listed ecommerce platform Groupon.聽
Amsterdam-based Recharge says the move for Bristol-headquarted Giftcloud marks a strategic and accelerated expansion into the fast-growing B2B rewards space.
The deal follows the firm鈥檚 recent 鈧�45M acquisition facility secured with ABN AMRO to fuel its international M&A activity.聽
Giftcloud, which powers customer and employee engagement campaigns for major UK brands including Vodafone, Sky and TalkTalk, processes millions of transactions annually and has a strong record of profitability.
The company brings Recharge a proven B2B model and a scalable platform to grow its corporate prepaid offering.
鈥淭his move is a deliberate step into B2B,鈥� said G眉nther Vogelpoel, CEO of Recharge.聽
鈥淲e see huge potential for prepaid in customer acquisition, loyalty and employee engagement.聽
鈥淕iftcloud gives us a foundation to grow that proposition further in the UK and across Europe – backed by Recharge鈥檚 digital infrastructure, partnerships and international reach.鈥�
The acquisition is said to be a key factor in Recharge鈥檚 strategy to build the global leader in prepaid payments – serving both consumers and businesses.聽
With Giftcloud, it will be able to offer a broad range of services direct to business clients.聽
Groupon CEO, Dusan Senkypl, added: 鈥淲e鈥檙e proud to have found a strong new home for Giftcloud within the Recharge Group.聽
鈥淕iftcloud has always played a valuable role in helping brands engage their customers through digital rewards.聽
鈥淲e鈥檙e excited to see the platform continue to grow as part of a business that is fully focused on prepaid and digital innovation.鈥�