Adyen

Adyen is a Dutch payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. Adyen has more than 3,500 customers[1] and is listed on the stock exchange Euronext.

Adyen N.V.
Naamloze vennootschap
Traded asEuronext: ADYEN
ISINNL0012969182 
Industrypayments technology, e-commerce, point of sale
Founded2006
FounderArnout Schuijff, Pieter van der Does
Headquarters
Amsterdam
,
Netherlands
Number of locations
San Francisco, New York, Boston, São Paulo, London, Manchester, Singapore, Berlin, Paris, Stockholm, Madrid, Shanghai, Sydney, Mexico City
Key people
  • Pieter van der Does (CEO)
ServicesPayment service provider, gateway, risk management, local acquiring, point of sale
Number of employees
1350
Websiteadyen.com

Adyen offers merchants online services for accepting electronic payments by payment methods including credit cards, bank based payments such as debit cards, bank transfer, and real-time bank transfers based on online banking. Adyen's online payment platform connects to payment methods across the world. Payment methods include international credit cards, local cash-based methods, such as Boleto in Brazil, and Internet banking methods, such as iDEAL in the Netherlands. The technology platform acts as a payment gateway, payment service provider and offers risk management and local acquiring.

History

Adyen was founded in 2006 by a team of payment industry professionals (the core management team hails from Bibit and have been working together for close to twelve years), including Pieter van der Does and Arnout Schuijff, now the CEO and CTO respectively.[2] Headquartered in Amsterdam, the company employs around 1000 people in offices in thirteen countries.[3]

The name Adyen means 'start again' in Sranan Tongo. This is a reference to this being the second project of the founders, after Bibit.[4]

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth largest European unicorn.[5]

In 2016, Adyen was ranked #10 on the Forbes Cloud 100 list.[6]

In 2017, it was #5 on the Forbes Cloud 100 list.[7]

In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank.[8]

In November 2017, Adyen partnered with Air Canada to provide international payment solutions for the airline company's customers.[9][10]

On 24 May 2018, the company announced that it will be making the company public by listing shares publicly in Amsterdam.[11] The IPO took place on 13 June 2018.[12]

Growth

The company has been profitable since 2011.[13] Its earnings grew from $46 million in 2015 to $87 million in 2016.

Its gross revenue grew 99 percent in 2016 to $727 million.[14][15][13]

In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek Holdings, Index Ventures, and Felicis Ventures.[16][17]

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.[18]

In September 2017, Adyen announced the expansion of its payment processing services to Singapore through direct credit card acquiring license for Visa and MasterCard.[19][20]

On January 31, 2018 eBay announced that it had signed an agreement with Adyen to become its primary payments processing partner. The transition to full payments intermediation will take several years. eBay will begin intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the operating agreement with PayPal. In 2021, eBay expects to have transitioned a majority of its marketplace customers to Adyen.[21] Adyen reportedly paid eBay $70 million in cash and $83 million in stock warrants for the privilege.[22]

References
  1. Boichenko, Tetiana. "Opinion: Top 9 Fintech Platforms for 2018 - Banking Exchange". m.bankingexchange.com. Retrieved 8 August 2019.
  2. "Adyen on the Forbes Cloud 100 List". Retrieved 22 September 2017.
  3. "Adyen on the Forbes Cloud 100 List". Retrieved 22 September 2017.
  4. "Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar". NOS. Retrieved 30 October 2018.
  5. "The European unicorn unbanking the merchant". Hot Topics. 26 October 2015. Retrieved 27 October 2015.
  6. "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  7. "Cloud 100 2017". Forbes. Retrieved 22 September 2017.
  8. "Dutch payments processor takes pan-European license to bypass banks". Reuters. 26 June 2017. Retrieved 22 September 2017.
  9. "Air Canada Announces Partnership With Adyen to Provide International Payments Solution to Customers | Crowdfund Insider". Crowdfund Insider. 1 November 2017. Retrieved 14 November 2017.
  10. "BRIEF-Air Canada partners with Adyen to expand local payment methods". Reuters. 2017. Retrieved 14 November 2017.
  11. "A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public". Business Insider. Retrieved 25 May 2018.
  12. "Adyen knalt omhoog na beursgang". NU.nl (in Dutch). 13 June 2018. Retrieved 13 June 2018.
  13. "The next big payments IPO could be a fast-growing startup not named Stripe". 12 April 2017. Retrieved 22 September 2017.
  14. Kharpal, Arjun (12 April 2017). "Adyen, the $2.3 billion firm that processes payments for Uber and Netflix, saw 2016 revenues rise 99%". CNBC. Retrieved 15 September 2017.
  15. Rogers, Bruce. "Payments Company Adyen Scales To New Heights". Forbes. Retrieved 15 September 2017.
  16. Chapman, Lizette. "Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation". The Wall Street Journal. Retrieved 16 December 2015.
  17. "Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform". General Atlantic website. Archived from the original on 21 July 2016. Retrieved 16 December 2015.
  18. Choudhury, Saheli Roy (8 February 2017). "Company behind Facebook, Uber and Netflix payments reveals huge transaction growth". Retrieved 22 September 2017.
  19. hermes (9 September 2017). "Payments tech provider targets Asia-Pac expansion". The Straits Times. Retrieved 15 September 2017.
  20. Finextra (7 September 2017). "Adyen expands direct credit card acquiring capabilities to include Singapore". Finextra Research. Retrieved 15 September 2017.
  21. "EBay Rises to Record High on Shift to Adyen; PayPal Tumbles".
  22. Kahn, Jeremy (18 February 2019). "Bloomberg Businessweek".
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