Adyen, the company that processes payments for companies such as Netflix, Facebook and Spotify, has received funding from a secretive wealth management company that counts Facebook and Twitter/Square CEOs respectively Marc Zuckerberg and Jack Dorsey as some of its clients.
Even prior to this investment, Adyen was already worth over $1 billion, making it the only Dutch ‘unicorn’ startup. It has not revealed the exact amount raised, but indicated the funding round was intended to bring aboard key investors, which turned out to be Iconiq, the investment fund that also acts for Sean parker and LinkedIn co-founder Reid Hoffman.
Little is known about the fund, but it is known that the company has $12.5 billion assets currently under management. It has also invested in Indian e-commerce platform Flipkart.
“When we were given the chance to get the people behind those companies as investors you just don’t say no, that’s a unique opportunity,” Pieter van der Does, CEO of Adyen, told CNBC in an interview.
He went on to say the investment and the calibre of the investor will help Adyen expand its network in Silicon Valley companies.
Adyen has been going from strength to strength in the last two years: last year it processed over $25 billion in transactions and exceeded 100 per cent growth in terms of revenue.
The investment from Iconiq comes less than a year after it secured $250m from a funding round led by General Atlantic.
Metromile has just landed nearly $200m in Series D funding for its auto insurance payments platform.
London fintech startup Curve has picked up another $3m in funding to replace all the different payment cards in your wallet with just one.
Signifyd, the company that provides fraud protection for e-commerce businesses, has raised $19m in a funding round with investors including American Express Ventures, Menlo Ventures and Triple Point Capital.
Fintech will be a key focus for Spotify and iZettle-backer Northzone as it announces a brand new €300m venture capital fund to invest in early-stage European startups.