The Dutch payment platform Adyen plans to enter the Euronext stock market listing in June.
The company confirmed the long-standing rumors of a possible IPO.
Reuters reported that the company is looking at a valuation between 6 and 9 billion euros. This would make it the largest European tech IPO since Spotify’s listing.
CEO and Founder Pieter van der Does sees an IPO was an "elegant way" to set a price for those who want to buy or sell. Existing shareholders are targeting a 15% stake sale, according to Adyen.
Picture: Adyen CEO and Founder, Pieter van der Does
The competition is strong, notably among payment service providers, namingly, in Germany, Wirecard and Concardis, and the international players Worldpay and Ingenico. "We have the impression that we are still at the beginning of an extraordinary journey," said founder and CEO Pieter van der Does. Adyen is aiming at a strong growth, focusing on building new features for customers and helping merchants grow.
In 2017, Adyen processed 108 billion euros in sale volume for its partners, a 60% increase on 2016.
Founded in 2006, Adyen‘s omnichannel payment platform offers a variety of payment methods for online and brick-and-mortar shops, including credit cards, direct debit, PayPal and Alipay. It currently has 750 employees. The company recently added eBay, Theory, Valve, ofo, giffgaff, Tinder, Lorna Jane, Groupe L’OCCITANE and ASICS to its merchant base, which already includes Microsoft, Samsung, Uber, Facebook, Spotify, LinkedIn, Twitter, Netflix, Sephora and Tory Burch.