Open banking platform Tink have managed to secure a €90 million investment round to support its European expansion
This was Tink’s biggest investment round in company history.
Following a €56 million investment round completed back in February 2019, this marks the open banking platform’s most lucrative round to date.
“The investment round will facilitate our ambitious growth plans over the next year and beyond,” said Daniel Kjellén, co-founder and CEO of Tink. “During 2020, we are committed to building out our platform with more bank connections and, on top of that, expanding our product offering.
“Our aim is to become the preferred pan-European provider of digital banking services and to offer the technology needed for banks, fintechs and startups to leverage the opportunities of open banking and enable them to successfully develop financial services of the future.
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“Two key factors for succeeding with that are that we strengthen our European coverage and continue to deliver new data-products on top of this infrastructure to our customers.”
The funding, which was co-led by Dawn Capital, HMI Capital and Insight Partners, will be put towards developing its services, including financial data generation and the offering of financial management tools.
Josh Bell, general partner at Dawn Capital, said: “As the world of banking undergoes a fundamental shift, from analogue to digital and from closed to open, banks and financial services require a new set of technical foundations on which to build a winning product strategy for the coming decades.
“Tink has become a trusted partner amidst growing demand from Europe’s leading banks and fintechs seeking to build better and more creative financial products and services.
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“Our investment underlines the confidence that the industry has in Tink’s category-leading technology, and we look forward to supporting them on their continued journey.”
Founded in 2012 and based in Stockholm, Tink’s services are currently live in the UK, Germany, Spain, Italy, Portugal, Sweden, Denmark, Finland, Norway, Belgium, Austria and the Netherlands.
The firm has offices in London, Paris, Helsinki, Amsterdam, Warsaw, Madrid, Copenhagen, Milan, Oslo and Lisbon.
As well as being used by over 4000 developers, its clientele include Paypal, BNP Paribas, Nordea and NatWest.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
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