The round was led by General Atlantic.
Adyen says that its technology gives businesses the ability to accept almost any type of payment, anywhere in the world, across any payment channel — whether online, on a mobile device, or in-store.
The funding round also illustrates the potential investors see in this space, globally. With expansion as a key growth driver for companies around the world, the global e-commerce market is expected to grow from $1.5 trillion today to $2.4 trillion in 2018. Yet, historically, most payments have been processed using legacy platforms on dated infrastructure, not optimized for today’s commerce needs.
According to Nielsen Company, cross border e-commerce will grow to $307 billion in 2018 across six key markets (the US, the UK, Germany, Brazil, China, and Australia), up from $105 billion in 2013.
“In a world where consumers from different regions vary in how they prefer to pay for their goods and services, the leading online merchants depend on Adyen to power global commerce,” said Pieter van der Does, CEO, Adyen. “We are proud to be the preferred partner to work with global businesses, and are seeing a surge in demand across retail, travel, gaming, advertising, transportation and social media.”
The company, which claims to have Facebook, Spotify, Airbnb and 3000 other businesses as its clients, said it will use the investment to further accelerate growth, continue to expand its strong international presence and fuel global adoption of its platform especially in North American and Asia Pacific markets.
Adyen has offices in San Francisco, São Paulo, Singapore, London, Paris, Berlin, Stockholm, Madrid, and Boston.
In October, after studying its 3000 plus clients, Ayden had announced that that globally payments over mobile devices contributed 23.3 per cent of the total online payments for the quarter, up from 21.5 per cent last quarter.