With this investment, PayPal has agreed to partner with Tink to leverage its account aggregation technology to improve product experiences for PayPal customers.
Tink provides partners ranging from big banks to individual developers with the technology to access financial data from across Europe to enable digital financial services.
Founded in 2012, Tink is a cloud-based platform that provides the infrastructure and data products. Currently consisting of account aggregation, payment initiation, personal finance management and data enrichment – Tink’s products can be used to develop standalone services or be integrated into existing banking applications.
Its partners include NatWest, PayPal, SEB, ABN AMRO, BNP Paribas Fortis, Nordea and Klarna. Insight Venture Partners, Sunstone, SEB, Creades, Nordea Ventures and ABN AMRO Digital Impact Fund have invested in Tink.
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