Adyen, the Amsterdam-based payment processing company, recently leapt to a $2.3 billion valuation after receiving a large investment from its first Silicon Valley investor Iconiq Capital. This news comes less than a year after Adyen was valued at $1.5 billion valuation, with a funding round of $250 million raised.
Adyen’s technology enables retail companies to integrate mobile, online and POS payments on one platform, allowing for any type of payment to be swiftly and securely processed anywhere in the world. By streamlining the payment process, Adyen has helped several companies increase their sales revenue. Adyen’s customers already include tech giants like Facebook, Airbnb, Netflix and Spotify.
The sudden interest of Silicon Valley signals important headway as the Netherlands based company looks to further expand into the U.S. market. With 40% of the company’s profits already coming from the U.S. and a recently expanded team in San Francisco, Adyen has now turned its sights on landing more clients among large national and international retailers.
Uber is among Adyen’s exciting international clients, who use the payment processing system in 50 countries already, and are currently looking to expand into Morocco. Adyen also recently partnered with Brazil’s iconic Macarena Stadium for mobile payment processing of football and concert tickets. As the mobile share of local payment methods are now up to 50%, according to Adyen’s research, retailers are increasingly looking to create simple mobile payment processing options, and Adyen has been a leader in the field since its 2006 launch. While its latest valuation is a strong growth indicator, company executives say that Adyen isn’t focused on an IPO anytime soon.…
LendingHome, the San Francisco based startup that offers peer-to-peer mortgages, recently raised $109.3 million in Series C funding. The bulk of this funding came from Chinese social media company RenRen, who invested $70 million in the fin tech startup. This is RenRen’s latest large-scale investment in several fintech startups, including Fundrise.
LendingHome’s series C funding follows a stellar year with over $100 million in mortgages originated, which funded short-term bridge loans to homeowners flipping properties and mortgages for landlords who own and rent out 10 or fewer single-family residences. The startup is simplifying the process of getting a loan or mortgage, and demand seems high for their new tech-friendly approach.
Borrowers can apply for loans on LendingHome’s website, and track their application’s status as it moves toward approval. LendingHome uses a wide range of data to review property value and which applicants are likely to repay their loans. One source used is Intuit Connect, which can access a borrower’s bank statements.
LendingHome also aggregates deals to allow institutional investors, like hedge funds and financial service firms, to fund bulk loans that have already been approved as reliable and creditworthy. Soon the platform will also offer deals for individual investors looking to get into real estate investing.
LendingHome’s successful round of Series C funding, along with its explosive growth, points to another growing industry eager for a streamlined digital transformation. LendingHome offers mortgages and loans much faster than the manual processes still being used by banks.
Co-founders Matt Humphrey and James Herbert have done well to bring technology to bear on an industry whose operations were largely still operating by pre-internet standards.…