One of the renowned online consumer-branded payments startup Recharge.com has raised another round of funding. The company has announced raising a notable £26 million in its series B funding round and is all set to use it for bettering its services and accelerating its global expansion. In a conversation with UKTN, Recharge.com’s CEO Günther Vogelpoel reveals more on what’s in store for the scaleup and what are its future plans.
International expansion, new services and more
The £26 million Series B funding round for the company was led by a new investor SmartFin while existing investors Prime Ventures and Kreos Capital participated as well. With the latest funding round, the total funding raised by Recharge till date stands at £51 million. Vogelpoel tells us that the funding will be utilised to accelerate the company’s expansion in the US market and additional new markets in Asia, Latin America and the GCC.
“Recharge.com will invest further in the enhancement of our mobile app proposition with new services and features. Additionally, we also plan to introduce our own financial services and banking products to serve our customers even better,” Vogelpoel reveals. Furthermore, while the company has not revealed its valuation post fresh funding, the CEO notes that it is a ‘steep’ increase from its previous funding rounds. ...