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Tink closes EUR 85 mln investment round extension

Friday 11 December 2020 10:48 CET | News

Tink has closed the year with a completed EUR 85 million investment round extension, following its EUR 90 million investment round in January. 

This brings the total invested in Tink during 2020 to EUR 175 million.

This funding top up will fuel Tink’s continued expansion and support the further development of its payment initiation technology, enabling companies of all shapes and sizes across Europe to integrate payment solutions. 

Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Tink’s technology and connectivity powers digital services for over 300 banks and fintechs – including PayPal, NatWest, ABN AMRO, BNP Paribas, Nordea and SEB – and is also used by more than 8,000 developers. 

During 2020 Tink made three major acquisitions, as part of its strategy to invest in intelligent data-services based on open banking. Tink acquired Swedish credit decisioning firm Instantor, giving Tink increased capability in credit risk products built on top of its open banking connectivity, Spanish account aggregation provider Eurobits, significantly increasing Tink’s bank connectivity in Europe, and the aggregation platform of UK open banking pioneer, OpenWrks, which will bring UK business account data to Tink’s customers. 

Tink is currently live in Sweden, UK, France, Spain, Germany, Italy, Portugal, Denmark, Finland, Norway, Belgium, Austria and the Netherlands. 

The investment round was co-led by a new investor, European growth equity player Eurazeo Growth, and current investor, London-based B2B software venture capital firm Dawn Capital. Existing investors PayPal Ventures, HMI Capital, Heartcore, ABN AMRO Ventures, Poste Italiane and BNP Paribas’ venture arm, Opera Tech Ventures, increased their investments in Tink.


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Keywords: Tink , investment, expansion, Open Banking, payments, banks
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech