Fintech Unicorn Adyen Leaps to $2.3B Valuation
Adyen, the Amsterdam-based payment processing company, recently leapt to a $2.3 billion valuation after receiving a large investment from its first Silicon Valley investor Iconiq Capital. This news comes less than a year after Adyen was valued at $1.5 billion valuation, with a funding round of $250 million raised.
Adyen’s technology enables retail companies to integrate mobile, online and POS payments on one platform, allowing for any type of payment to be swiftly and securely processed anywhere in the world. By streamlining the payment process, Adyen has helped several companies increase their sales revenue. Adyen’s customers already include tech giants like Facebook, Airbnb, Netflix and Spotify.
The sudden interest of Silicon Valley signals important headway as the Netherlands based company looks to further expand into the U.S. market. With 40% of the company’s profits already coming from the U.S. and a recently expanded team in San Francisco, Adyen has now turned its sights on landing more clients among large national and international retailers.
Uber is among Adyen’s exciting international clients, who use the payment processing system in 50 countries already, and are currently looking to expand into Morocco. Adyen also recently partnered with Brazil’s iconic Macarena Stadium for mobile payment processing of football and concert tickets. As the mobile share of local payment methods are now up to 50%, according to Adyen’s research, retailers are increasingly looking to create simple mobile payment processing options, and Adyen has been a leader in the field since its 2006 launch. While its latest valuation is a strong growth indicator, company executives say that Adyen isn’t focused on an IPO anytime soon.
Photo credit: Adyen