Adyen’s IPO price soars, valuing FinTech company at $14bn

Shares in Dutch FinTech company Adyen have surged more than 70 per cent at the start of trading, following its initial public offering.

Shares were priced on Tuesday at €240 ($281), the top of their indicated range, suggesting a market capitalisation of €7.1bn ($8.5bn). However, on their first day of trading today, the price rose to €400 ($470) for a $14bn valuation.

Index Ventures, an early investor in Adyen, claims to the IPO demonstrates the increasingly power of European startups.

Index partner Jan Hammer said in a blog post: “Adyen is one of the Europe’s biggest success stories, embracing the complexity of the payments world as an opportunity rather than a problem to overcome. Today’s IPO on Amsterdam’s Euronext exchange is a big day for the company, and for FinTech startups reinventing the centuries-old financial services industry.

“Most importantly, it represents the power and diversity of startups that are increasingly international, and building products with a global vision.”

Earlier this year, the venture capital saw another one of its investments, Sweden’s iZettle, file for an IPO and then get acquired by PayPal a few days later for $2.2bn.

Adyen is a global payment end-to-end infrastructure provider which connects with VISA, MasterCard and a range of consumer’s local preferred payment services. Some of its clients include Facebook, Uber, Netflix, Spotify, Casper, Bonobos and L’Oreal. Its product offers online payments, in-store POS terminal and marketplace services to split payments.
Its PSD2 compliant services enable consumers and retailers to complete transactions around the world and through a series of payment types, as well as, revenue optimisation and risk management services.

Last month, the company announced its annual revenue for 2017 reached $1.14bn, increasing by more than $400m from 2016. It also revealed it had processed $122bn in volume for merchants across 1017, a 61 per cent growth on 2016.

Copyright 2018 FinTech Global

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