Open banking platform Tink has completed a €90m ($100m) investment round co-led by Dawn Capital, HMI Capital and Insight Partners.

The investment round follows Tink’s €56m ($62m) funding round in February 2019, which makes today’s funding Tink’s largest to date.

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Tink will use the funding to expand across Europe and support further development of its open banking platform.

Daniel Kjellén, Tink co-founder and CEO, said: “The investment round will facilitate our ambitious growth plans over the next year. During 2020 we are committed to building out our platform with more bank connections and expanding our product offering.

“Our aim is to become the preferred pan-European provider of digital banking services and to offer the technology needed for banks, fintechs and startups to leverage the opportunities of open banking and enable them to successfully develop financial services of the future. Two key factors for succeeding with that are that we strengthen our European coverage and continue to deliver new data-products.”

Investors 

New investors Dawn Capital and HMI Capital co-led the funding round – together with existing investor Insight Partners. In addition, the round included investors Poste Italiane, Heartcore Capital, ABN AMRO Ventures and BNP Paribas’ venture arm, Opera Tech Ventures.

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Josh Bell, Dawn Capital General Partner, said: “As the world of banking undergoes a fundamental shift, from analogue to digital and from closed to open, banks and financial services require a new set of technical foundations on which to build a winning product strategy for the coming decades.

“Tink has become a trusted partner amidst growing demand from Europe’s leading banks and fintechs seeking to build better and more creative financial products and services. Our investment underlines the confidence that the industry has in Tink’s category-leading technology. We look forward to supporting them on their continued journey.”

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

Founded in 2012, Tink has over 270 employees and connects to over 2,500 banks.