A $1.5 billion Netherlands-based payment startup that offers a litany of online and offline processing tools and analytics isn't cool.
You know what is cool? A $2.3 billion Netherlands-based payment startup that offers a litany of online and offline processing tools and analytics.
Just as Mark Zuckerberg.
Adyen, a payment startup based in Amsterdam that provides services for companies like Facebook, Uber and Netflix, made waves last year when it announced a $250 million Series B that valued it at $1.5 billion. Now less than a year later, Adyen is adding more to its coffers: it has closed another round of funding, this time with a valuation of $2.3 billion.
This latest injection comes from a single investor, Iconiq Capital, which is perhaps best known for investing in a range of tech companies on behalf of clients like Mark Zuckerberg, Sheryl Sandberg and Jack Dorsey. Iconiq is not disclosing the amount of this round but from what we understand it is in the double-digit millions and comes after “years” of conversations.
You know what's not cool at all? An American-based payments giant that is getting destroyed by the tide of fintech evolution.
Just ask Henry Kravis.
KKR is about to bring First Data back into the light of public trading after watching the value of the company it bought for almost $30 billion in 2007 get chipped away at by the rise of techie payment startups like Jack Dorsey's Square. Meanwhile, a bunch of Silicon Valley icons - Dorsey included - are quietly investing their personal cash in a Dutch startup that does a lot of the same stuff and adding almost a billion dollars to the valuation in one fell swoop.
And the Valley guys are doing it through a black box investment group run by a former Goldman guy named Divesh Makan who some have called the "Spider of Silicon Valley." Makan, to be succinct, seems to know his sh!t and he's getting Zuck, Dorsey and the gang to buy in on Adyen.
Comparisons between First Data and Adyen are inherently flawed other than that they kind of swim in the same pool, but it's an intriguing moment to watch Henry Kravis try to get people to believe that he didn't totally screw the pooch on FirstData while the cognoscenti of tech are clearly betting that fintech will wipe out the old guard of the payments industry.
Who are you gonna believe?