ReCharge Raises $277M Growth Round from Summit Partners, ICONIQ Growth and Bain Capital Ventures

Recharge Acquires Giftcloud from Groupon

April 15, 2025

Payments & Fintech

Recharge, the European prepaid payments platform, has acquired UK-based digital rewards provider Giftcloud Limited from Groupon to accelerate its expansion into the B2B rewards and corporate prepaid market. The deal adds a profitable, scalable platform (serving clients such as Vodafone, Sky and TalkTalk) and follows Recharge's €45M acquisition facility with ABN AMRO to support international M&A.

ICONIQ Capital Invests $40M Growth Round in Conexiom

July 28, 2020

Cloud & SaaS

Conexiom, a Vancouver-based SaaS provider of sales order and invoice automation, received a $40 million strategic growth investment from ICONIQ Capital, with existing investor Luminate Capital retaining a majority stake. The funding will be used to accelerate platform development, increase investment in machine learning and AI, extend the product beyond order and invoice automation, and expand Conexiom's global footprint.

Accel-KKR Acquires Majority Stake in Recurly

August 12, 2020

Cloud & SaaS

Accel-KKR has made a majority equity investment in Recurly, a San Francisco-based provider of subscription management and billing software. The investment will provide capital and resources to accelerate Recurly's product innovation, expand global payments capabilities and scale its go-to-market efforts.

Summit Partners Leads $70M Minority Growth Investment in Formative

June 15, 2021

Education

Summit Partners led a $70 million minority growth investment in Formative, a SaaS-based K–12 student data and assessment platform, with participation from Emerson Collective, Fika Ventures, MaC/Mac Ventures and Rethink Education. The capital will fund product expansion, increased teacher and administrator support, and international growth while Summit’s Tom Jennings joins Formative’s board.

FTV Capital Invests $90M Growth Equity in BillingPlatform

January 24, 2024

Cloud & SaaS

BillingPlatform, an enterprise revenue lifecycle management SaaS provider, secured a $90 million growth equity investment from FTV Capital to accelerate product development, go-to-market expansion and market leadership. FTV Capital joins existing institutional investor Columbia Capital as minority investors; the funding will support BillingPlatform's continued expansion into large enterprise verticals and new markets.

Primus Capital Recapitalizes Rev.io

September 8, 2020

Cloud & SaaS

Primus Capital has made a growth equity recapitalization investment in Rev.io to support the SaaS billing and customer management platform's growth and scalability. The investment will help Rev.io accelerate product and operational scalability for communications, IoT, and other technology service providers.