Dutch fintech giant Adyen sets up Middle East headquarters in Dubai

Firm says presence in DIFC to complement operations in other financial hubs

  
Arab Men walks outside the building Dubai International Financial Center.

Arab Men walks outside the building Dubai International Financial Center.

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Dutch payments company Adyen has set up its Middle East headquarters at the Dubai International Financial Centre (DIFC), following its expansion plans into the region. 

The fintech unicorn, which has a market capitalisation of €66.4 billion ($80 billion) and processed more than €303.6 billion worth of transactions in 2020, chose to open an office in DIFC due to its “regional reach and comprehensive ecosystem”. 

“Opportunities in the Middle East region are prevalent. We are looking forward to growing in the region and DIFC was the natural choice for Adyen,” said Sander Maertens, head of Middle East at Adyen. 

“Being part of DIFC’s ecosystem will help Adyen build out our offering to support the needs of both international as well as local merchants,” Maertens said. 

The company announced its expansion into the Middle East in November 2020. It has established presence in other financial hubs across the world such as New York, London, Hong Kong, Singapore and Tokyo. 

“We are pleased that Adyen has selected DIFC as their regional office for the Middle East. They are joining the region’s largest, most innovative and forward-thinking community of more than 2,500 financial-related businesses who are working with us to shape the future of the industry,” said Arif Amiri, chief executive officer of DIFC. 

The company reported this month that its net revenue went up 29 percent year-on-year to €174.5 billion in the second half of 2020 on the back of “surging volumes in online retail and digital goods verticals”. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@refinitiv.com 

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