Adyen Adds New Funding From Iconiq, Values Dutch Payment Group At $2.3B

▤ Summary

Adyen, a payment startup based in Amsterdam that provides services for companies like Facebook, Uber and Netflix, made waves last year when it announced a $250 million Series B that valued it at $1.5 billion. Now less than a year later, Adyen is adding more to its coffers: it has closed another round of funding, this time with a valuation of $2.3 billion.This latest injection comes from a single investor, Iconiq Capital, which is perhaps best known for investing in a range of tech companies on behalf of clients like Mark Zuckerberg, Sheryl Sandberg and Jack Dorsey. Or as Van der Does puts it: It was not something that we needed to do, but something that we wished to do, an opportunity and a vote of confidence.Specifically, while the company today says it works with seven of the 10 largest Internet firms in the U.S., it wants to fill out that list further (one notable absence from Adyens client roster: Apple). This is where new relationship with Iconiq which itself has deep connections with area executives will come in handy.Another area where some of the investment may go is in building up Adyens wider presence in the Bay Area, potentially by way of acquisitions.Today, you can see that there are many payment companies that are not profitable so I expect a certain shakeout, Van der Does says.He adds that acquisitions for Adyen are less about acquiring new technology, which can become tricky to integrate when not built from the ground up. Van der Does says going public is not a route Adyen is considering right now: Were not looking at an IPO in the short term, he says.

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Adyen

$1M to $5M