Adyen floats on Amsterdam’s Euronext between €6.5 billion and €7.1

Dutch payments group Adyen is poised for a market value of between €6.5 billion and €7.1 billion when it floats on Amsterdam’s Euronext stock market this month in one of the largest European technology listings in recent years Adyen, which acts as a middleman between merchants and payment groups, has grown rapidly since it was founded 12 years ago, attracting clients with multinational customers such as Uber and Airbnb. Because the group negotiates deals with a variety of payment companies, from Visa and Mastercard in the US and UK to Cartes Bancaires in France, Oxxo in Mexico and Alipay and UnionPay in China, it has attracted clients looking to avoid the inconvenience of striking individual deals with scores of different payment providers. In a sign of Adyen’s growing muscle, it toppled a 15-year partnership between eBay and PayPal this year to win a contract with the ecommerce giant. Investors say the model has given Adyen an edge over established rivals such as PayPal, which favour their own in-house payments wallets. The company is backed by investors including London-based Index Ventures, Singaporean sovereign wealth fund Temasek, General Atlantic and Iconiq, an investment company representing many of Silicon Valley’s richest executives.
Aliya Ram