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

Recharge Acquires Skio for $105M in Cash

May 1, 2026

Financial Services

Recharge announced it acquired Skio, a Shopify-native subscription payments/subscription management platform, in an all-cash deal reportedly valued at $105 million. Skio reached about $32 million in ARR and processed roughly $4 billion in payments at the time of sale.

Coda Acquires Recharge, Europe’s Prepaid Payments Platform

July 17, 2025

Payments & Fintech

Coda, a Singapore-based digital content monetization and distribution company, has signed an agreement to acquire Recharge, Europe’s leading prepaid payments platform. The deal is expected to expand Coda’s B2C presence in Europe and deepen its prepaid payments and direct-to-consumer capabilities.

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.

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.

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.

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.