Payments provider Adyen’s market cap surges to $22bn
Dutch payment giant Adyen has seen its market cap reach $22bn, marking an increase of almost 50% this year.
Adyen’s revenue has also seen a significant rise of 54% in the second half of 2018, growing to a total of $219mn.
The payment company, whose digital payment services are used by customers like H&M, Facebook, eBay, Spotify and Uber, was founded in 2006 and made its IPO in June this year. Since this debut on the Amsterdam Stock Exchange, the business’ shares are up 175%.
The figures released are higher than the expectations of analysts, and the company has put its significant growth down to the rising numbers of payments going through its platform. Adyen processed $101bn (€89bn) in volume during H2 2018.
Speaking exclusively to Gigabit, the company’s Senior Vice President of Business Development, Northern Europe, Jussi Lindberg said: “We have great technology and we’re very fun to work with.”
Lindberg cited the company’s ambitious goals which it has so far been successful with, including simplification of payments and expansion to different regions, and added the company will continue to look to grow and develop. “The work is still not done,” he told the publication. “The world if not covered… Looking at the physical point of sales space, there’s still so much to do and so many store initiatives that we are fortunate enough to be building out together with our customers. It’s going to be really fun to see what the future brings.”