Adyen, the Amsterdam-based payment processing company, announced today that its valuation had jumped to $2.3 billion after a new investment from its first Silicon Valley investor.
Adyen said it couldn’t reveal the amount it received from Iconiq Capital, however, the latest funding comes less than a year after the company raised a round of $250 million at a $1.5 billion valuation.
While the new money and the eye-catching valuation are nice, Adyen chief commerce officer Roelant Prins said building the company’s network in Silicon Valley was just as critical. Prins had just spent a year living in San Francisco building a team out there, and the company is eager to make an even bigger push into the U.S. market.
“We have very strong ambitions about growing in the U.S.,” Prins said. “We really feel like they can help with that.
Adyen’s previous investors include General Atlantic, Index Ventures, Temasek, and Felicis. But Iconiq is known for, among other things, its role in managing finances for big shots like Mark Zuckerberg, Jack Dorsey, and Reid Hoffman.
The company is already profitable, with 40 percent of its revenues coming from the U.S., according to Prins. Now the company wants to grow closer to some of the fastest-growing new companies in Silicon Valley. And it wants to pursue more clients among larger national and international retailers.
The goal: To pitch its payment processing system, which runs over the Internet and can streamline the patchwork of legacy payment systems that many companies use across different regions and countries.
And with an office in San Francisco that has already grown from 20 to 50 people, Adyen hopes the Iconiq name can help with the fierce competition for talent in Silicon Valley.
Meanwhile, Prins said Iconiq isn’t focused on an IPO any time soon.