Tink’s mobile app lets user keep a handle on their personal finances, by linking the app to banks accounts and credit cards.
PRODUCTS & SERVICES:
Tink is a mobile app that gives you new insights and fun facts about your money every time you open it. The app continuously collects, sorts and analyses consumer spending into definable categories and provides user-defined budgets and alerts when a maximum spending limit is reached. The company has launched API developer portal that facilitates developers from across all sizes of organizations to access the financial data from more than 300 banks in a single API. The developers will use Tink’s Account Aggregation and Categorisation products via a self-serving platform, also make it faster and easier to do the experiments and launch new and customer-centric products for their end users.
The company has built APIs that enables banks to plug-and-play account aggregation, payment initiation, PFM, and product recommendation technology in a single platform. There are customer use cases to use tink data API.
Kreditz is one of the customers who use Tink’s APIs to aggregate transaction data from their end user’s accounts. Kreditz applies algorithms to customer account data to build a real-time credit score for hire purchase or loan agreements.
Another customer, SBAB has launched a ‘mortgage challenger’ by aggregating their consumers’ mortgage data via Tink, using information on current mortgage rates to offer them a better deal.
MEDICI analysts will analyze Tink soon
Insufficient information for accurate analysis
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The fund will allow them to put great focus on the European market, scale their offer, and help banks to keep pace with the expectations of their customers.
SEED & PRIOR FUNDING:
SEED CLOSED ON:
$4 Millions Closed: Sep 2014
$10 Million Closed: May 2016
$16.4 Millions Closed: Oct 2017
The company has raised $16.5 M fund from Nordea and other banks & investors. (Oct. 2017)