Dutch payment platform Adyen’s revenue surpasses $1B in 2017

Dutch payment platform Adyen’s revenue surpasses $1B in 2017

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Adyen, a Dutch payment processing company announced it has earned north of €921M ($1.14B) in annual revenues in 2017 with an increase of over €323M from 2016. The company signed its first renowned customer Groupon in 2009 followed by other leading companies including eBay, Tinder, Valve, Uber, Etsy, Netflix, Booking.com, KLM, and ASICS.

The in-app and mobile payment company also posted a significant 61% year-over-year increase in processed volume from 2016 to 2017 amounting to €98.6B ($122B).

“Merchants around the world turn to Adyen for a simpler, more powerful payments platform. We are highly focused on transforming the online and in-store payment experience. Our robust growth points to the strength of our unified commerce solution,” said Pieter van der Does, co-founder and CEO of Adyen.

Adyen’s Amsterdam office. Photo credit: Adyen

Adyen expands across Singapore, New Zealand, and Canada

Adyen is also known as ‘Braintree‘ of Europe (an independent payment processing company bought by e-Bay in 2013). One of Adyen’s key features that made it attractive to millions of merchants across Europe and North America is its ability to process all payment orders whether they take place in-store, on a mobile device, or at e-commerce channels.

The company which is planning an IPO (Initial Public Offering) in late summer this year at a valuation of € 6-9 billion ($7-$11 billion) has aggressively expanded from Singapore and New Zealand to Canada.

The team behind Adyen and more speculations

Adyen was founded by payments industry veterans Pieter van der Does and Arnout Schuijff as both served stints at Bibit, a highly successful international payment service provider later acquired by the Royal Bank of Scotland.

With Adyen’s fast ascent as a global payments provider, some experts speculate that it might be a lucrative acquisition opportunity for PayPal, though the latter is a customer of Adyen as the Dutch company runs eBay’s payment system.

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