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 and is listed on the stock exchange Euronext.
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, including Pieter van der Does and Arnout Schuijff, now the CEO and CTO respectively. Headquartered in Amsterdam, the company employs around 1000 people in offices in thirteen countries.
The name Adyen means 'start again' in Sranan Tongo. This is a reference to this being the second project of the founders, after Bibit.
In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth largest European unicorn.
In 2016, Adyen was ranked #10 on the Forbes Cloud 100 list.
In 2017, it was #5 on the Forbes Cloud 100 list.
In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank.
In November 2017, Adyen partnered with Air Canada to provide international payment solutions for the airline company's customers.
On 24 May 2018, the company announced that it will be making the company public by listing shares publicly in Amsterdam. The IPO took place on 13 June 2018.

Growth

The company has been profitable since 2011. Its earnings grew from $46 million in 2015 to $87 million in 2016.
Its gross revenue grew 99 percent in 2016 to $727 million.
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.
In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.
In September 2017, Adyen announced the expansion of its payment processing services to Singapore through direct credit card acquiring license for Visa and MasterCard.
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. Adyen reportedly paid eBay $70 million in cash and $83 million in stock warrants for the privilege.