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The
Dutch company, a rival to Worldpay, PayPal and Square said
transaction volumes running via its payments platform doubled to
50 billion euros, resulting in a tripling of profits thanks to
mounting economies of scale.
Adyen, which is backed by top venture capital firms and wealthy
tech investors including Facebook's Mark Zuckerberg, said
profits last year rose to 40 million euros from 13.6 million in
2014, an increase of just under 200 percent.
The company has been profitable since 2011. The latest results
are preliminary, pending a final audit, it said.
Growth came from new customers and increased business from
existing customers and expansion of its point-of-sale services
into the U.S. market in 2015 and in Australia, a market it has
only recently entered. Adyen has 380 employees in 11 countries.
In 2015, Adyen signed up 10 new airlines including Cathay
Pacific and easyJet, e-commerce firms Netflix, Dropbox and
Eventbrite and retail customers such as Burton, Gant, Etam et
Celio and Camper. Existing clients include Facebook, Uber [UBER.UL],
Airbnb, and Priceline's Booking.com. Last September, Adyen said
it was valued at around 2 billion euros ($2.3 billion) after its
latest funding round from Iconiq Capital, the investment vehicle
of Zuckerberg and several other Silicon Valley billionaires. It
previously received backing from Index Ventures, General
Atlantic and Temasek Holdings.
Chief Executive Pieter van der Does said at that time that Adyen
was working to become a full-service payments provider for
retailers and online merchants globally and was prepared to wait
up to two or three years before seeking a stock market listing.
($1 = 0.9153 euros)
(Editing by Maria Sheahan)
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