- Singapore-headquartered Coda has completed the acquisition of Recharge, Europe’s leading prepaid payments platform.
- Together, the companies served over 200M users and processed US$1.75B in sales in 2024.
- The combined business is positioned for accelerated growth, with expanded product expertise, geographic coverage and commercial opportunity.
SINGAPORE and AMSTERDAM | 19 August 2025 — Coda, a global leader in digital content monetization headquartered in Singapore, has completed its acquisition of Recharge, Europe’s leading prepaid payments platform, headquartered in Amsterdam. This follows Coda’s announcement last month on the signing of a definitive agreement to acquire Recharge.
The transaction unites two profitable, scaled businesses with complementary strengths. Coda brings deep partnerships with leading digital content publishers, including Electronic Arts, Activision, and Riot Games, alongside extensive payments networks across Southeast Asia and other growth markets. Recharge adds established consumer brands such as Apple, Google, Vodafone, and PlayStation, and a broad prepaid product portfolio across Europe. Together, the combined company serves more than 200 million users in over 180 markets and processed US$1.75 billion in sales in 2024 — and is on track to surpass that performance in 2025.
The acquisition creates a single, trusted partner for the global distribution and monetization of digital content and prepaid products across mobile gaming, entertainment and lifestyle. With greater scale, broader product depth, and wider geographic reach to match the ambitions of the world’s leading publishers and brands, the combined business is positioned to deliver greater value for both partners and consumers, capture new market share, and define the next chapter of the digital commerce industry.
Shane Happach, Chief Executive Officer of Coda, commented: “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.”
Recharge’s brands, including Recharge.com, Startselect and Giftcloud, along with Coda’s solutions — Codapay, Custom Commerce, Codashop, and Coda Distribution — will continue to operate without disruption. The talented teams behind them remain in place, ensuring continuity as we work together to unlock new scale, reach, and revenue opportunities for partners worldwide.
The transaction is supported by Apis Partners, Insight Partners, Smash Capital, and Coda’s other investors.
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About Coda
Coda is a global leader in digital content monetization. We’re trusted by 300+ publishers—including Activision, Electronic Arts, and Riot Games—to grow their audiences and revenue worldwide. Our out-of-app solutions include Custom Commerce, a fully customizable web store; Codapay, which enables seamless direct payments through a single API integration on publishers’ websites; Codashop, the go-to marketplace for millions of gamers to purchase in-game content; and Distribution, which extends content reach through a network of trusted commerce partners. Founded in 2011, Coda is headquartered in Singapore with a team of 400+ Codans around the globe. Coda is backed by Apis Partners, Insight Partners, and Smash Capital, and has been named an APAC High Growth Company (2023) by Financial Times, one of Granite Asia’s NextGenTech 30 (2024), a payments leader on Fortune’s Fintech Innovation Asia list (2024), and listed among The Straits Times Fastest Growing Fintechs (2024). For more on Coda, visit coda.co.
About Recharge
Recharge is European Leader in digital prepaid payments, seamlessly connecting global brands with their customers through innovative platform solutions. With multi-country digital storefronts like Recharge.com and Startselect.com, Recharge enables users to access prepaid payment products anytime, anywhere. The company also powers B2B digital rewards and incentives, helping businesses acquire, engage, and retain customers with Giftcloud. Trusted by industry leaders such as Apple, Google, Vodafone and PlayStation, the Amsterdam-headquartered company has been driving convenience and innovation in the prepaid ecosystem since 2010, partnering with over 1,000 brands and service providers worldwide.
