Coda expands global footprint with acquisition of European payments platform Recharge

Coda Payments has signed a definitive agreement to acquire Recharge, a European prepaid payments platform, in a move aimed at expanding Coda’s reach beyond its core gaming segment and strengthening its direct-to-consumer operations across Europe.

The deal brings together two regional payments and digital content distribution players. Based on 2024 figures, the combined companies processed over US$1.75 billion in transactions, reached more than 200 million users, and operated in more than 180 markets.

Coda, based in Singapore, works with publishers such as Electronic Arts, Activision, Riot Games, HoYoverse, and Moonton. Its network of over 400 local payment channels supports the sale and distribution of more than 500 game titles and operates webstores for franchises like Call of Duty®: Mobile and EA SPORTS FC™ Mobile. The company acts as Merchant of Record, managing payment risk, compliance, and customer support for its partners.

Recharge, headquartered in Amsterdam, operates digital storefronts like Recharge.com and Startselect.com, offering prepaid products in categories including gaming, mobile, gift cards, and lifestyle. The company serves more than 8 million users and partners with global brands such as Apple, Google, Vodafone, and PlayStation.

Coda CEO Shane Happach said that the agreement will combine Coda’s B2B reach with Recharge’s established B2C operations and experience in the European prepaid market. “This transaction brings together two companies with distinct but complementary capabilities,” Happach noted.

Recharge CEO Günther Vogelpoel stated that the acquisition will extend Recharge’s platform and partnerships into new regions, particularly Asia. “Joining forces with Coda allows us to expand our platform’s reach and build on our position in prepaid payments,” Vogelpoel said.

The transaction is backed by Apis Partners, Insight Partners, Smash Capital, and Coda’s existing investors.

With the acquisition, Coda and Recharge plan to offer broader payment and distribution options across digital content categories. The combined platform will provide prepaid and direct payments, digital rewards, and branded storefronts for partners and consumers in multiple markets.

No financial details of the acquisition were disclosed.