Tink, the European open banking platform HQ'd in Sweden, raised €56m from U.S.-based Insight Venture Partners
Tink, the European open banking platform headquartered in Sweden, has deposited €56 million in new funding. Leading the round is U.S.-based 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 — most notably — Nikolay Storonsky, co-founder of banking app and fintech “unicorn” Revolut. According to sources, the new round of funding gives Tink a post-money valuation of €240 million. Originally launched in Sweden in 2013 as a consumer-facing finance app with bank account aggregation at its heart, Tink has since repositioned its offering to provide the same underlying technology and more to banks and other financial service providers that want to ride the open banking/PSD2 train.