Tink on its way to full European coverage with €56 million investment


By Daniel Kjellén and Fredrik Hedberg

We just announced an investment round of €56 million – led by Insight Venture Partners, one of the biggest venture firms, based in NYC. It’s our biggest to date and it sets us up to make 2019 a monumental year – allowing us to continue our push to become the open banking platform in Europe, and the partner for anyone who wants to revolutionise the customer experience.


There’s been a major shift in banking. The new digital infrastructure has created a world of possibility – moving us away from bank branches and toward smart services that better meet our needs for personal, convenient experiences. People don’t have to settle for a bad experience anymore – they have the power to choose their financial services and the choice is out there for them to make.

Tink has been a part of this shift. We pushed the EU for legislation that would open the market to greater competition. And we built the platform that gives banks, fintechs and developers the tools they need to create this next generation of financial services.

This investment of €56 million is a sign of recognition that we’re building something that’s important. It gives us the firepower to truly take ourselves where we want to be – to become the European open banking platform.

We know what this investment means to us. It means that in 2019 we can grow from 150-strong to more than 300. It means we can expand from two offices in Europe to five, so we can be closer to our customers. It means we can double our connectivity to achieve full European coverage. And it means we can add even more products to our cloud-based platform.

Here’s what it means for our customers – both current and future – and for the financial industry in Europe.

What it means for our customers

Historically, banking markets have functioned within their national boundaries for different reasons – and competition has been worse for it. But this new movement of digital services doesn’t need to be national. You can use this new digital infrastructure to build amazing products and scale it so it reaches millions.

Tink is part of this new digital infrastructure – and in 2019 we’ll expand our connectivity to offer true pan-European coverage. Our customers will have the ability to finally overcome legacy hurdles, and offer cross-border financial products and customer experiences – without multiple partners for each country and complex integrations. It’s just one API integration, and they get access to our whole platform.

The investment will also allow us to continue refining and expanding the data products we have across Europe – and to add more. Our customers, in turn, will gain the ability to run businesses that are driven by the data, meeting customers with personalised and tailored products where they are – on their phones.

Our customers will have the tools to get to know consumers through their data – helping them understand their finances, and giving them advice that will bring the financial future they want closer. It’s a situation in which everybody wins – our customers can offer better products that are more suited to the market, and customers get what they want at last.

What it means for the industry

For this, we give a nod to our investors. By investing in our future, they are also investing in the possibilities that this era of open banking opens up – creating an entirely new playing field where customers have more choice to pick the best products and experiences.

The software experts at Insight Venture Partners are committed to pushing open banking to new highs. Having looked at all of the financial-service API providers in Europe, they believe we’re the leader.

Two of our other new investors – former Nordea CEO and European Banking Federation chairman Christian Clausen, and Revolut founder Nikolay Storonsky – come from opposite sides of the industry, representing both the traditional industry players and the challengers. But they both appreciate the immense opportunity that’s up for grabs – and see our product and our platform as a force for change.

The industry is undergoing a monumental shift – an exciting one that puts consumers and their data at the centre. We are on a mission to arm all of our customers with the connectivity and products they need to win in this new open world – and usher in a new future for banking.


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