Singapore-based Coda has completed its acquisition of Amsterdam-headquartered Recharge, a prepaid payments platform in Europe, following its July announcement of a definitive agreement to acquire the company.

The combined business now serves over 200 million users in 180 markets and processed US$1.75 billion in sales in 2024. It is on track to surpass that figure in 2025.

Coda works with publishers including Electronic Arts, Activision and Riot Games, while Recharge partners with Apple, Google, Vodafone and PlayStation.

The deal expands Coda’s European presence and broadens its product portfolio alongside existing networks in Southeast Asia and other markets.

Recharge.com, Startselect and Giftcloud will continue operating alongside Coda’s Codapay, Codashop, Custom Commerce and Coda Distribution.

The companies said their teams remain in place to ensure continuity.

The transaction is backed by Apis Partners, Insight Partners, Smash Capital and other investors.

Shane Happach, Chief Executive Officer of Coda, said,

“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.”

Günther Vogelpoel, Chief Executive Officer of Recharge, said,

“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.”