Adyen joins the ranks of financial technology companies to receive big money this week, announcing a $250 million funding round today.
The fundraising draws on enthusiasm that the electronic payments market can reach $2.4 trillion by 2018, from its current level of $1.5 trillion, according to General Atlantic, an equity investment firm and one of Adyen's primary investors
Adyen develops and provides technology to facilitate global payments through online, mobile, or in-person means. The company currently contracts with over 3,500 businesses, including Facebook, Spotify, and Airbnb.
The $250 million round of capital investment comes on the heels of Adyen's reported 100% annual increase in payment transaction volume and revenues, according General Atlantic's Dec. 16 press release.
"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," said Jonathan Korngold, the managing director and global head of the financial services division of General Atlantic, in the release. "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."