Adyen reports 83% jump in second-half core earnings: 5 interesting things to know about Netherland’s fintech star

Adyen reports 83% jump in second-half core earnings: 5 interesting things to know about Netherland’s fintech star

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Dutch fintech unicorn Adyen has reported an 83% jump in the second-half core earnings this week. Well, the Netherland’s poster boy has posted €192.5 million net revenue in the second half of 2018 that ended in December. With this astonishing growth, the company has surpassed the estimations of analysts.

The global payment company processes payments for Gap Inc., Netflix Inc. and Spotify Technology SA. During the six months period, it has processed €89 million in payments, which is a 50% increase compared to the same period the year before. With this growth in revenue, the company’s shares have grown as much as 6.3% during the early trade in Amsterdam before it dropped to 2.8% by evening.

The co-founder and CEO Pieter van der Does along with the CFO Igno Uytdehaage said, “We saw strong profitable growth in the second half of 2018, largely due to the continued growth of enterprise merchants on our platform,” in a letter to shareholders.

Raised over $1 billion revenue

Adyen was founded in 2006 by entrepreneurs Pieter van der Does and Arnout Schuijff with the intention of becoming a successful global payment service provider.

Notably, Adyen is a Dutch unicorn as it is one of the pioneer companies that has a valuation of over $1 billion in the private sector. Also, it is one of the fintech companies that has announced annual revenue of over $1 billion. Well, the company earned €921 million, which is a little over $1 billion in revenue in 2017.

Here today Silicon Canals has compiled a list of important things you should know about one of the hottest tech unicorns out of Amsterdam. Take a look at it below.

5 things to know about Adyen

#1. Netherland’s pride Adyen is an online payment platform that enables businesses to organise and process their payments from customers via different channels. There are more than 250 different payment methods both online and offline. Adyen’s client list includes some big names like Facebook, Spotify, Netflix, Uber and more.

#2. Adyen was established in 2006 by Dutch entrepreneurs Pieter van der Does and Arnout Schuijff and has employed more than 500 people till date. The company was valued at $2.3 billion (around €1.8 billion) in 2015 in an investment round headed by Iconiq Capital, a Silicon Valley fund supported by billionaires involving Facebook’s Mark Zuckerberg and Twitter co-founder Jack Dorsey.

#3. Apart from the chief investor, Iconiq Capital, their investor portfolio includes General Atlantic, Temasek, Index Ventures, and Felicis Ventures. In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015. Overall, the company witnessed a rapid growth in recent years, with its revenue almost doubling to $727 million in 2016.

#4. Adyen’s biggest competitors in the market are WorldPay, US-based payment processor recently named as Vantiv and French payments company Worldline SA.

#5. Adyen is a proud Dutch unicorn as it is one of the pioneer private companies with a valuation of more than $1 billion. Now the company is expanding its international footprint with an entry in Asia Pacific market, starting with focus on Singapore. At a media conference recently, CCO Prins was quoted saying, “We feel there are so many more markets for us out there, many more industries for us to continue that growth path.”

Stay tuned to Silicon Canals for more updates in the tech startup world.

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