FRANKFURT, April 12 (Reuters) - Adyen, one of Europe’s biggest fintech companies, saw revenue last year rise 99 percent to $727 million (686 million euros) and expects it to double again in 2017 to around $1.5 billion, Roeland Prins, the company’s chief commercial officer, said on Wednesday.
The Amsterdam-based company handles cross-border payments for ecommerce giants Airbnb, Booking.com, Spotify and Uber, advertising for Facebook and Twitter and ads and subscriptions for LinkedIn and is expanding in the Americas and Asia.
“The bigger this company gets, doubling in percentage terms starts to get more challenging, but we should double again in the current year,” Prins said in a phone interview, referring to annual revenue.
Adyen reported in February that overall volumes for online and offline payment transactions it processes through its system grew 80 percent during 2016 to $90 billion (reut.rs/2p4VQvm). It competes with established peers such as Worldpay and PayPal but is growing far faster.
The Amsterdam-based company said it generated more than $1.4 million in revenue per employee, putting it in a rare class of $1 million plus-per-employee firms that includes Apple, Amazon, Facebook, Google and online classifieds company Craigslist.
The company is backed by wealthy tech investors including Facebook’s Mark Zuckerberg and Singapore sovereign wealth fund Temasek. It was last valued at $2.3 billion in 2015.
During the past year it has also begun processing consumer payments for tech firms such as Microsoft’s and its Skype calling unit, Symantec, and billing for office space firm WeWork and ecommerce brands Sephora and Bonobos.
The company says it has been profitable since 2011 but does not disclose exact figures.
1 euro = $1.0602 Editing by Maria Sheahan