• FOUNDING YEAR: 2012
    LOCATION:
    Sweden
    REGION:
    Last Update:
    18 Oct, 2019

Description

FOCUS

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.
MAIN CLIENTS:
The company has customers from banks & FinTech firms. Clients: ABN Amro, Klarna, SEB, Nordea, Collector Bank, Qliro, SBAB, Nordnet, Keditz
COMMENT
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.

PEOPLE

FOUNDERS:
Fredrik Hedberg, Daniel Kjellén
Board Members and Advisors:
Fredrik Hedberg, Daniel Kjellén, Nicklas Storåkers
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
Sven Hagströmer, Sunstone Capital, Creades AB, SEB Venture Capital, Nordea, Nordnet, ABN Amro
KEY EMPLOYEES:
Daniel Kjellén (CEO); Fredrik Hedberg (CTO)

TRACTION

ACTIVE USERS COMMENT:
The company claims it has more over 0.5 Mn users using the app(April 2018).
COMMENT:
The company has announced it will be live in 10 European countries in early 2018. (Oct. 2017)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$31.2 Millions
DATE OF LAST FUNDING:
Oct 2017
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:
$800 K
SEED CLOSED ON:
Jun 2013
FUNDING SERIES:
SERIES A
$4 Millions Closed: Sep 2014
SERIES B
$10 Million Closed: May 2016
SERIES C
$16.4 Millions Closed: Oct 2017
LISTED:
NO
COMMENT:
The company has raised $16.5 M fund from Nordea and other banks & investors. (Oct. 2017)

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