Dutch payments processor Adyen has announced plans to list on the Amsterdam stock exchange this June, according to Reuters. And with the company estimating a valuation of $7-$11 billion, it would make it the largest European fintech listing since Spotify in April of this year.
Adyen competes primarily with Worldpay and France’s Worldline to service the larger online retailers needing support for cross-border payments and in January, they beat out PayPal on the contract to process for eBay. This comes in addition to the company’s already-established initiatives to expand its in-store POS processing services.
“This offering provides us with the freedom to keep building the company, while offering our shareholders a path to liquidity,” said chief executive and co-founder Pieter van der Does in the same article.
Adyen said in a statement its shareholders currently plan to sell a 15% stake.
And Adyen isn’t the only payments company with going-public news making headlines this week.
Digital payments processor i3 Verticals filed with the SEC to raise up to $86 million in initial public offering. The company, which provides integrated payment processing and software to the small business sector, booked $293 million in sales for the 12 months ending on March 31 of this year, according to Renaissance Capital.
While no pricing terms have been disclosed at this time, the same article does confirm plans for the company to list on the Nasdaq under the symbol IIIV.