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Payments General

Open banking app Tink scores EUR 56 mln in new funding

Friday 8 February 2019 | 10:45 AM CET

Sweden-based open banking platform Tink has deposited EUR 56 million in new funding lead by Insight Venture Partners.

Existing backers Sunstone, SEB, Nordea Ventures and ABN AMRO Digital Impact Fund also participated. A number of other investors have been added to Tink’s cap table, too. They include Christian Clausen, former chairman of the European Banking Federation, and Nikolay Storonsky, co-founder of banking app and fintech unicorn Revolut. The new round of funding gives Tink a post-money valuation of EUR 240 million.

Originally launched in Sweden in 2013 as a consumer-facing finance app with bank account aggregation at its core, Tink has since repositioned its offering to provide the same underlying technology and more to banks and other financial service providers that want to adhere to open banking/PSD2.

More: Link
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