Swedish open banking platform Tink has raised €56m in an investment round that was led by New York-based Insight Venture Partners.
The company’s existing investors Sunstone, SEB, Nordea Ventures and ABN Amro Digital Impact Fund also participated in the latest funding round.
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Tink investment round: Future plans
Tink is planning to use the new investment to launch its services in new markets.
The company is launching its developer platform to five new markets to bring the total to nine and aims to be present in 20 European markets by the end of this year.
It also aims to bolster its current employee strength to support the expansion. Tink, which now employs 150 people at its Stockholm headquarters, intends to double its European workforce.
The company also plans to establish four more offices this year. Recently, it opened one centre in London.
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By GlobalDataTink co-founder and CEO Daniel Kjellén said: “This funding round allows us to accelerate our European roll-out but also invest further in our data-services.
“As Europe gradually embraces open banking, our platform has proved to be its rails and brains – delivering the technology that makes it possible.”
Established in 2012, Tink is a cloud-based platform providing value-adding data products to financial institutions.
The company’s products can be integrated into existing banking applications or develop standalone services.
