Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform
Funding for Leading Global Payments Technology Company Led by General Atlantic with Significant Investments from Temasek and Existing Investors, Index Ventures and Felicis Ventures
Adyen, a leading global payments technology company, today announced it has closed $250 million in funding. The funding round was led by global growth equity investor General Atlantic, with additional participation from Temasek, Index Ventures and Felicis Ventures.
Adyen’s technology gives businesses the ability to accept almost any type of payment, anywhere in the world, across any payment channel — whether online, on a mobile device, or in-store. With global expansion as a key growth driver for companies around the world, the global e-commerce market is expected to grow from $1.5 trillion today to $2.4 trillion in 2018. Yet, historically, most payments have been processed using legacy platforms on dated infrastructure, not optimized for today’s commerce needs. Adyen has designed and built a global, omni-channel (online, mobile and in-store) platform that solves this problem.
“In a world where consumers from different regions vary in how they prefer to pay for their goods and services, the leading online merchants depend on Adyen to power global commerce,” said Pieter van der Does, CEO, Adyen. “We are proud to be the preferred partner to work with global businesses, and are seeing a surge in demand across retail, travel, gaming, advertising, transportation and social media. Adyen has built a 21st century payment platform that is far ahead of the competition.”
Adyen is the partner of choice for more than 3,500 marquee customers globally, including four of the five largest U.S. Internet companies. For example:
- Facebook works with Adyen to process global transactions for its games and ads activities in 137 countries across North America, South America, Europe, Asia and Australia.
- Spotify partners with Adyen to enable subscription purchases in 58 countries and 22 different currencies.
- Airbnb relies on Adyen to allow global hosts and guests to use local payment methods such as Alipay in China.
Among the new generation of payment platforms, Adyen is unique in allowing merchants to accept payments from nearly every country in the world and in 187 currencies. The company manages transactions end-to-end through direct connections with all major credit card companies, and accepts more than 250 payment methods, including Apple Pay, Alipay in China, Boletos in Brazil, Qiwi in Russia, SEPA Direct Debit in Europe and Konbini in Japan. Additionally, thanks to its omni-channel platform, Adyen has the ability to process payments made online, in-store or on mobile devices. This enables retailers to deliver compelling shopping experiences, whether through express checkout, home delivery of in-store purchases or in-store returns of online purchases. The Adyen technology transforms the commerce experience by replacing multiple platforms with a single solution, bringing reliable and seamless transactions, enhanced data security, risk and fraud management, delivering significant cost savings and increased customer conversions.
“Adyen is at the forefront of a rapidly globalizing payments market with tremendous growth potential,” said Jonathan Korngold, Managing Director and Global Head of General Atlantic’s Financial Services Sector. He continued, “In addition to exponential growth in e-commerce, we are also seeing a rise in consumer demand for integrated experiences across in-store and online shopping. Considering the inherent opportunities in both of these trends, we believe that Adyen is very well-positioned to extend its position as the leading global payments solution in the years to come.”
On the heels of a 100 percent annual increase in payment transaction volume and revenues, Adyen will use this investment to further accelerate growth, continue to expand its strong international presence and fuel global adoption of its platform, with particular emphasis in the North American and Asia Pacific markets. This funding will allow the company to continue to build innovative tools to help its customers capitalize on the vast omni-channel opportunity.
Adyen is a leading payments technology company that provides businesses a single global platform to accept payments anywhere in the world. Driven by a vision to improve customer experience, streamline processes and ultimately increase revenue, Adyen enables businesses to process payments across online, mobile and Point-of-Sale (POS) with over 250 payment methods and 187 transaction currencies. Headquartered in Amsterdam and San Francisco, with offices across North America, South America, Europe and Asia, Adyen serves more than 3,500 businesses and four of the five largest U.S. Internet companies, including well-known brands such as Facebook, Airbnb, Spotify, Groupon, Evernote, Booking.com, Viagogo, Yelp, Vodafone, Mango, O’Neill, SoundCloud, Indiegogo, KLM and JustFab.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. General Atlantic combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, General Atlantic has approximately $20 billion in assets under management and more than 95 investment professionals based in New York, Greenwich, Palo Alto, Sao Paulo, London, Munich, Amsterdam, Beijing, Hong Kong, Mumbai and Singapore.