Startup of the Week: Tink

  • Tink was founded by Daniel Kjellén and Fredrik Hedberg.
  • The startup offer a range of cloud-based tools to help businesses build the future of Europe’s financial services.
  • So far, Tink have raised $308.4 million over 7 funding rounds.

Website: https://tink.com/

On a mission to change the banking industry for good, our Startup of the Week for this week is Tink!

Founded in 2012 by Daniel Kjellén and Fredrik Hedberg, Tink has created, as they themselves claim to be – “Europe’s most robust open banking platform”, offering tools used by fintechs, big banks and startups alike.

Through Tink’s platform, the Swedish fintech offers a suite of cloud-based tools, as well as SDKs, guides and resources to help developers create their products.

 

Tink-logo

 

Tink helps businesses, ranging from big banks to startups, to develop financial services driven by data. Through an API, Tink enables customers access to aggregated financial data, while also enriching transactions, verifying account ownerships and helping to build personal finance management tools.

Tink strives to innovate and transform the financial services industry, helping businesses big and small to build the future of European financial services. The startup has 10,000 developers currently using its platform, with over 10 billion transactions processed a year, over 3,400 banks and institutions integrated, and over 250 million bank customers reached throughout Europe.

To date, Tink serve 14 European markets, with 370 employees spread over 10 offices across the likes of London, Paris, Milan and further afield.

Tink have raised a total $308.4 million in funding over the course of 7 funding rounds, their latest, a Venture Round announced in December 2020, raised €85 million, co-founder and CEO Daniel Kjellén commenting the following on the round:

“Despite the difficulties of 2020, it was a year of great growth for Tink. We significantly built out our bank connections across Europe, increasing coverage from 2,500 to 3,400 banks, and now serve more than 300 world-leading financial institutions.”

“2020 has seen payments powered by open banking take-off, and in 2021 we expect to see this scale – most prominently in the UK, followed by Europe. This funding extension will further facilitate the development of our payment initiation services across Europe, while continuing to deliver new data-products built on open banking technology to our customers.”