FILE PHOTO: Euro banknotes and coins are displayed in a shop in Brussels

Fintech startup Adyen’s shares jumped 93% in its first day of trading in Amsterdam

93%

Dutch startup Adyen went public Wednesday (June 13) and managed to double its valuation to $13 billion, after its shares, which started the day priced at €240, valued 93% and closed at €463.

Published   |  Photo by Reuters/Eric Vidal
FILE PHOTO: Euro banknotes and coins are displayed in a shop in Brussels
93%

The jump was so big—the average increase from opening to closing price of the 10 largest European tech IPOs this year was just 6%—that it reminded some watchers of the dotcom bubble.

FILE PHOTO: Euro banknotes and coins are displayed in a shop in Brussels
93%

Adyen provides the payment processing platform of big services like Spotify, Uber, and Netflix. Until recently, the startup was less known than rivals Square and PayPal.

FILE PHOTO: Euro banknotes and coins are displayed in a shop in Brussels
93%

Firms like Adyen are a threat to traditional financial institutions, but though its valuation puts it above groups like Commerzbank and Mediobanca, it still has a long way to go to reach the large players.

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