The global payment company that processes payments for companies including Airbnb, Uber, Spotify and Netflix is eyeing a stock market listing in June that could value it at €6 to 9 billion. This would make its IPO one of the largest in Europe for a fintech company. The company became profitable in 2016 with sales nearly doubling to $727 million. It has forecast similar growth for 2017.
Earlier this year, Adyen was chosen to replace Paypal as the main payment platform for buyers and sellers on online auction site Ebay. With a focus on how Ebay’s users make or receive payments, the auction site picked Adyen to simplify its buying and selling experiences and help it innovate further in the online auction space. For sellers, the main benefits of Adyen’s service include cheaper processing and more control, streamlined business management and a boost in sales. Buyers will benefit from more payment options and a better shopping experience.
Ebay will start introducing Adyen in North America from June. By 2021, most of its customers will be moved to the new platform.
Just 1.5 years since its founding, Dutch grocery delivery startup Picnic has nabbed a huge Series B investment round to roll out their service to the entire country. The €100 million round was provided by four Dutch family funds, NPM Capital, De Hoge Dennen, Hoyberg, and Finci. During their pilot programme in the city of Amersfoort, they aimed to revolutionise the logistics of grocery delivery.
Starting from a distribution centre where local produce is collected and parsed for delivery, the company uses custom-built electric vehicles to get their products delivered. The vehicles follow set routes and deliver at specific times, so costumers always know when to expect their order. Not only more efficient than most grocery delivery companies, the method also allows Picnic to deliver for free.
The company plans to use the extra cash to roll out their service to the rest of the Netherlands, build distribution centres, and purchase thousands of electric vehicles for delivery.
Online news platform Blendle has increased its turnover by more than 18% over the past year. Based on the 18.7 million articles that were read on the platform in 2017 at an average price of 35 cents each, turnover in the Netherlands is about €6.5 million. Frequently called the ‘’iTunes for news”, the site aggregates articles from a variety of newspapers and magazines and sells them on a pay-per-article basis to provide users with a single account to read articles from their favourite newspapers and magazines. Founded in 2014, the service is available in the Netherlands, Germany and the United States.
Cloud-based core banking provider Ohpen has recently raised €25 million in its Series C round from private equity firm Amerborgh. In its Series B in 2017, the company raised €17 million, bringing their total investment to €40 million. With offices in the Netherlands and the UK, the scale-up will use the capital to establish themselves in a still to be determined third country (Germany, France, Canada, Australia or the United States). The investment will be used to build a team in the third market and further develop the platform with country-specific requirements.
Founded in 2008 by Chris Zadeh, Ohpen enables the banking industry to switch from their on-premise legacy IT infrastructure to a cloud-based state-of-the-art financial services platform. The company’s innovative system is designed to allow banks and other financial services firms to plug into a secure, cloud-based administration factory. Its technology enables costs to be reduced by up to 40% by clients, which include Knab, Nationale Nederlanden, Aegon and Robeco.
“Our private equity firm primarily looks at execution power of entrepreneurs because we get thousands of requests from people with great ideas. The execution power of the Ohpen team is unparalleled”, said Michel Vrolijk, Managing Director Amerborgh Nederland.
“Since the start of its journey in 2008, Ohpen has pioneered setting up worldwide hubs that banks can just plug into. This is the future of the core banking industry. Launching the third country is crucial for Ohpen’s strategy and Amerborgh is thrilled to support them at this decisive point in their growth story.”