Amsterdam-based startup Creative Group offers customers the opportunity to digitally buy or send prepaid credit to spend with their favourite brands, as well as send cross-border credit remittances. Founded in 2010, the fintech has now raised €22 million in funding from Prime Ventures, and plans to expand its solutions into 30 countries by the end of 2020.
Creative Group’s solution combines a scalable tech platform with distribution power via online marketing. This enables brands to easily tap into large new markets and discover new customer segments globally. With their labels Recharge.com and Rapido.com, Creative Group’s goal is to reach a sales volume of €200 million by the end of the year.
Rapido is a fast-growing online top-up store offering a broad selection of e-vouchers from brands including iTunes, Google, Spotify, Xbox and PlayStation. Rapido processes and delivers digital codes, which consumers buy online to use as credit for prepaid services from their favourite brands. The service is now available in 13 countries.
Based on the same proprietary technology, Creative Group started a remittance business in 2016 that focuses on delivering a service to immigrants for cross-border remittances of call and data credits. Recharge.com is already available in 130 countries, with 600 operators. Recharge.com was named the winner for the 2018 fintech category of the Deloitte Fast 50 in the Netherlands. In the near future, Recharge plans to be the most convenient way to recharge and pay for all major living cost from anywhere, by anyone and at any time.
“We are an official digital distributor for some of the world’s most powerful brands,” explains Günther Vogelpoel, CEO of Creative Group. “We are excited to have Prime Ventures on board. With the growth capital they invest, we are able to further accelerate our growth internationally. Their knowledge, vast network, and international contacts will enable us to meet our goal of becoming the global leader in the digital top-up market.”
“We will push hard and expand fast,” added VogelPoel. “By the end of 2020, Rapido.com will be available in 30 countries all over the world and Recharge.com plans to become the alternative for money transfer by offering more household utility credits like energy, wifi and satellite tv.”
“We believe that Creative Group represents an attractive and largely untapped opportunity,” said Prime Ventures Partner Pieter Welten. “We envision that the market for the personal use of digital vouchers, prepaid solutions and recharge services will continue to grow. We are impressed by the company’s performance to date, despite their limited resources, and we are convinced they will grow significantly in the coming years.”
