Adyen Valued at Up to £6.2bn During shareholder Sell-off Before its IPO


Adyen, a Dutch payments fintech and one of the few European tech startups that were able to obtain the so-called unicorn status, has now been valued at around €6.5bn and €7.1bn (£5.7bn and £6.2bn) before its listing on the Euronext stock market.

The existing shareholders of Adyen are selling their stakes to institutional investors in several jurisdictions at a rate that ranges between €220 to €240 per share. The shares were equivalent to 14.2 percent ownership in the company. Once fulfilled, the sale could raise the company a total that is between €922m and €947m pre-flotation.

The fintech firm is set to trade under the ticker ADYEN. The listing will go live on Euronext Amsterdam on the 13th June. The news that were released today is considered to be a slight adjustment from the previous expectations for the valuation of Adyen once public, which when the firm first announced its plan to list, was rumoured to be as much as €9bn.

In a statement, Pieter van der Does, the CEO and co-founder of Adyen, stated: “We feel that we are still in the early stages of a remarkable journey. Our focus remains on building new functionality and on helping our merchants grow.”

He added: “This offering provides us with the freedom to keep building the company while offering our shareholders a path to liquidity. Adyen will remain a company that is driven by a long-term vision and strategy.”

To date, Adyen has raised around $266m (£198.9m) in funding, with investors that include Index Ventures as its biggest shareholder at 16.86 percent, Felicis, Temasek and Iconiq Capital, a Silicon Valley fund which invests for the founders of LinkedIn, Twitter, and Facebook.

The fintech company counts Airbnb, eBay, and Uber among its clients for its payments services. It forecasts medium-term net revenue growth amounting to 25 to 30 percent per year and of at least 40 percent this year. Adyen was able to generate a net revenue amounting to €218m during the previous year, representing a 38 percent growth year-on-year.