Tink

wealthtech-retailpersonal finance management

FOUNDING YEAR: 2012
LOCATION: Sweden
Last Update: 18/10/2019

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About

The rails and brains of open bankingTink is the best way to connect to banks across Europe and quickly build smart, personalised and delightful financial services. Start building with Tinks APIs for free. From collecting or analysing data, to obtaining insights and generating tailored advice and product recommendations - we help you deliver a more personal, intelligent financial experience to your users.Today, our technology is transforming banks and countless customer experiences across Europe. Founded in Stockholm in 2012, our partners include Nordea, BNP Paribas Fortis, Klarna, ABN AMRO and SEB.Through our technology, our mission is to help people understand their finances, empower them to make smarter decisions and ultimately bring financial happiness.

MEDICI Analysis

Tink’s mobile app lets user keep a handle on their personal finances, by linking the app to banks accounts and credit cards.

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.

Traction

ACTIVE USERS COMMENT:

The company claims it has more over 0.5 Mn users using the app(April 2018).

TRACTION COMMENT:

The company has announced it will be live in 10 European countries in early 2018. (Oct. 2017)

People

FOUNDERS

Fredrik Hedberg

Daniel Kjellén

BOARD MEMBERS AND ADVISORS

Fredrik Hedberg

Daniel Kjellén

Nicklas Storåkers

NUMBER OF EMPLOYEES

11-50

INVESTORS:

ABN Amro

Creades AB

Nordea

Nordnet

SEB Venture Capital

Sunstone Capital

Sven Hagströmer

KEY EMPLOYEES:

Daniel Kjellén (CEO); Fredrik Hedberg (CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$31.2 M

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 M  · Sep 2014

SERIES B  · $10 M  · May 2016

SERIES C  · $16.4 M  · 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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