Recharge.com, the European leader in online consumer-branded payments, has announced a new Lisbon office focused on product development as it accelerates the expansion of its international operations.
Based out of LX Factory, in the prime hotspot of the Alcântara neighbourhood, the teams in the new development hub will be focusing on the introduction of custom financial services and banking products, as well as optimising customer experience services and features to serve our customers even better. The hub will house predominantly software and QA engineers and the team will be an extension of the current product capabilities in Amsterdam, accelerating product development in line with the company’s international growth strategy.
The company joins a list of other major fintech firms setting up technology hubs in the Portuguese capital. Due to a high quality of engineering talent, business-friendly policies, and high English language proficiency levels compared to other European hubs, the city has attracted many new commercial residents in recent years, from Google to Mollie. Companies are eager to tap into a new talent pool as Lisbon has one of the fastest-growing tech ecosystems and offers a great quality of life.
Recharge already employs a large Brazilian workforce that speaks Portuguese and shares a cultural history with Portugal. This forms an ideal basis to quickly ramp up our new location and integrate it in our current operations in Amsterdam.
“The opening of this new office is incredibly exciting for us. It marks yet another milestone and is a natural next step for our international growth strategy," said Recharge.com's CEO Günther Vogelpoel. "Lisbon is the perfect next destination for us as we take on the world of branded payments from not just one, but two key locations in Europe. As one of the most vibrant new technology hubs in Europe, there is great match in both talent and capabilities for Recharge’s ambitions. I am looking forward to welcoming our new colleagues and making them part of our great Recharge adventure.”
Recharge.com is one of Europe's fastest-growing technology companies, helping over 3 million people to process more than $500 million in consumer-branded payments each year. It has seen sharp growth from high smartphone penetration, increasing popularity of e-wallets and alternative payment methods, and the growing need for privacy and digital cross-border transactions.
The announcement comes after a $35 million Series B round of funding to further accelerate Recharge.com’s global expansion and the appointment of senior team members to fuel its growth. The company is targeting sales of €450m and 50% year-on-year growth in 2021.