Dutch payments company Recharge.com announced the launch of its services in the Kingdom of Saudi Arabia and the United Arab Emirates (UAE).
Recharge.com will provide a one-stop-shop marketplace for various categories of branded payments, including call credit, data bundles, shopping, entertainment, gaming, and prepaid money.
There will be local and global products for people to choose from and customer service support in both English and Arabic.
The announcement comes hot on the heels of a €10 million debt funding round to fuel Recharge.com’s international expansion and the appointment of Michael Kent, one of Europe’s fintech entrepreneurs, as non-executive chairman.
The company is targeting sales of €450 million and 50% year-on-year growth in 2021.
The fast-growing fintech firm specialises in digital gift and prepaid cards for local and global brands including Netflix, Spotify and Xbox.
Commenting on the company’s entry into the Middle East, Günther Vogelpoel, CEO of Recharge.com said,
“We are thrilled to be expanding our businesses offering in the GCC.
Serving this distinct population will not only enable us to grab significant market share in the region, but also help to build the foundations for our future expansion in other parts of Asia and Africa.”
Featured image: Günther Vogelpoel, CEO of Recharge.com
