News

Another FinTech Unicorn Gets Silicon Valley Investment

Seems like unicorns get less rare every day. So, another day, another unicorn. This time, the unicorn resides in the land of financial technology.

On Wednesday (Sept. 30), VentureBeat reported that Adyen, the payments processing FinTech company based in Amsterdam, had said its valuation stood at a lofty $2.3 billion in the wake of an investment from its original Silicon Valley investor, Iconiq Capital. The amount was not revealed as of the date of the VentureBeat reporting.

The latest activity comes roughly a year after the company grabbed $250 million at a $1.5 billion implied valuation. Chief Commerce Officer Roelant Prins told the site that among priorities (and the Silicon Valley niche of the investor) for the company remain capturing a greater presence in the United States, a strategy that was announced as long ago as the last time the company raised capital.

Among the previous investing roster that had put in the aforementioned $250 million: Temasek, General Atlantic and Index Ventures, among others. But according to VentureBeat, Iconiq is known for “managing finances for big shots like Mark Zuckerberg, Jack Dorsey and Reid Hoffman."

In terms of Adyen’s own finances, the firm shows black ink, according to the site, with 40 percent of sales coming from the United States, according to Prins. With its push into the U.S. (with an office as large as 50 people in San Francisco, having grown from a relatively meager 20 souls), it will have physical proximity to the Valley and to national retailers and their own tech centers, a boon to its payments processing. The platform boasted by Adyen itself uses the Internet as its conduit and works across legacy payments systems, with a bridge across regions and countries.

To check out what else is HOT in the world of payments, click here.

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 AML/KYC Tracker provides an in-depth examination of current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space.

TRENDING RIGHT NOW

To Top