Adyen Nets $250 Million in New Funding
Dec. 18, 2014
Adyen, a Dutch e-commerce acquirer and processor, on Tuesday revealed it has raised $250 million in Series B funding, which pegs the company’s valuation at around $1.5 billion. Adyen, which focused on growth in the U.S. since it moved its North American headquarters to San Francisco at the beginning of 2014, will leverage the cash infusion to continue growing there, expand its client base in Asia Pacific, and expand its offerings to include brick-and-mortar solutions, Kamran Zaki, president of North America for Adyen, told CardNotPresent.com. The round was led by growth equity firm General Atlantic, with participation from Temasek, Index Ventures and Felicis Ventures.
“We’re continuing to invest in growth from a geographic standpoint. The two big focus areas are hiring and customer acquisition in North America and APAC,” Zaki said. “The other big area is the whole omnichannel play. We’ve developed a POS solution we’re going to double down on and grow that part of the business aggressively.”
At a $1.5 billion valuation, any list of possible suitors to acquire Adyen has narrowed significantly. An IPO is the likely endgame for investors, but Zaki said there are no immediate plans in that direction. Industry sources say, if the company can replicate the success it has achieved in Europe, South America and North America, Adyen could be well positioned to go public three to five years from now.