Prime Ventures invests €22m in Creative Group

Netherlands-based Prime Ventures is currently investing from its Prime Ventures IV fund, which closed on €170m in 2015. The fund writes equity cheques of €5-20m for IT companies.

The fresh capital will go towards further internationalisation and an expansion of the company's product range. It plans to make its e-voucher brand Rapido.com available in 30 countries by the end of 2020 and to add the capability to pay for household utilities on its money transfer brand Recharge.com.

Prime Ventures partner Pieter Welten will join the company's board.

The company aims to reach a sales volume of €200m by the end of 2019.

Previous funding
In 2015, Committed Capital acquired a minority stake in the company.

Company
Creative Group allows customers to digitally buy and send prepaid credit. It offers e-vouchers for brands such as iTunes, Google, Spotify and Xbox. The company operates two brands, Rapido.com and Recharge.com. Founded in 2003, the company employs 100 people and is headquartered in Amsterdam.

People
Prime Ventures – Pieter Welten (partner).
Creative Group – Günther Vogelpoel (CEO).

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• Topics
• Expansion
• Benelux
• Technology
• Netherlands
• Prime Technology Ventures
• Minority investing
• Venture