Wed, 16 Apr 2025 | BUSINESS SALE
Bristol-based digital rewards platform Giftcloud has been bought by European prepaid payments group Recharge as it eyes up further UK expansion.
Founded in 2010, 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 more than16,000 products, including gift cards and prepaid solutions. The platform helps businesses access new revenue streams while giving consumers financial control and flexibility.
Recharge, which is headquartered in Amsterdam, said its takeover of Giftcloud from its US owner Groupon was part of its strategy to build the global leader in prepaid payments serving both consumers and businesses.
Giftcloud helps businesses engage, acquire and retain customers through branded prepaid incentives. It handles millions of transactions a year.
Its platform enables fully branded, digital campaigns that support marketing and employee engagement strategies for some of the UK’s best-known companies, including Vodafone, Sky and TalkTalk.
Giftcloud, the UK’s first entirely digital gifting app and website, along with sister company Vouchercloud, grew rapidly from their Bristol base before being snapped up in 2018 by Chicago-based global e-commerce giant Groupon in a deal worth £47.2m.
Recharge will use its takeover of Giftcloud to expand its footprint in the UK, its third-largest market, and will now look to further grow across Europe.
The deal, financial details of which have not been disclosed, is Recharge’s second recent key acquisition, following the purchase of Startselect, the digital gift and gaming card firm.
Günther Vogelpoel, CEO of Recharge, said: “This move is a deliberate step into B2B. We see huge potential for prepaid in customer acquisition, loyalty, and employee engagement. Giftcloud gives us a foundation to grow that proposition further in the UK and across Europe—backed by Recharge’s digital infrastructure and partnership.”
Groupon’s CEO Dusan Senkypl, adds, “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.”
Find out more about foreign takeovers of UK businesses
This well-established East Midlands firm boasts over £90m in funds under management, offering a solid foundation and potential for growth.
This is an exclusive opportunity to acquire a South Wales IFA business with substantial assets under management, offering a stable, recurring income stream.
This is a rare chance to acquire a well-established, chartered financial planning firm with £380 million funds under management, offering a robust client base and a strong reputation in the industry.
15
|
Jul
|
Business and assets of furniture manufacturer acquired in pre-pack deal | BUSINESS SALE
The business and assets of a Wiltshire-based furniture manuf...
15
|
Jul
|
DJH continues acquisition drive with first takeover in Ireland | BUSINESS SALE
Private equity-backed accountancy and professional services ...
15
|
Jul
|
Hospitality giant acquires £12.3m-turnover hotel group | BUSINESS SALE
Property, construction and hospitality giant The Arora Group...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.