IPO of Adyen is great news for the Dutch and European Tech and FinTech scene! too much focus on the price share rise versus the incredible story of how the team build out Adyen to a global leading payment company, and show you can do that also out of Europe if you have the right idea with the right team at the right time.
Adyen’s shares — priced at €240, the top of a range set last week — rose as high as €503 in morning trading in Amsterdam. They closed at €462.95, giving the start-up a market value of more than €13bn. This is bigger than the value of established European financial groups including Commerzbank and Mediobanca. The IPO was read as a sign of growing enthusiasm for fintech groups that are revamping creaking payments systems and taking customers from established players such as PayPal. Adyen won a contract with eBay this year, ending a 15-year partnership between the ecommerce marketplace and PayPal. Its Amsterdam IPO comes less than a month after the US payments giant swooped in to buy Swedish payments start-up iZettle just before it was set to list in Stockholm.