Tink closes 2020 with €175m in new investment
Having secured €90m ($109m) in a January investment round, the company bookended with a near-equivalent €85m ($103m) on 11 December.
Tink, which offers a pioneering and data driven open banking platform, is currently connected to over 3,400 banks and reaches more than 250 million customers across Europe.
Founded in 2012, the company’s integrated API based approach has been met with widespread acclaim for its ability to enhance the customer experience, streamline payments and increase financial transparency.
A great growth year
With its technology already adopted by banking and payments sector heavyweights like PayPal, NatWest and BNP Paribas, it is, perhaps, unsurprising that Tink has managed to garner and maintain investor interest.
New investor and software VC (current investor) jointly led the latest round. Using the newly secured funds, Daniel Kjellén, Co-Founder and CEO of Tink, stated that the company will continue its mission of expansion (it is currently available in 13 European locations):
“2020 has seen payments powered by open banking take off, and in 2021 we expect to see this scale – most prominently in the UK, followed by Europe.
“This funding extension will further facilitate the development of our payment initiation services across Europe, while continuing to deliver new data-products built on open banking technology to our customers.”
UK finance: At a crossroads
Kjellén’s comments regarding ‘prominent’ open banking uptake in the UK are interesting to note, particularly in light of the news that , despite the previous deadline of Sunday 13 December passing without agreement.
Open banking has inherent benefits that could prove invaluable to reasserting financial strength after the UK formally ends its transitioned exit from the EU. Not least of these are a reduction in ‘red tape’ for digital services, cash flow automation and faster adjudication times for loans.
have already noted the important role that payment solutions could have in the post-Brexit dynamic. With the between those who see splitting from the EU as an opportunity and a hindrance still present, Tink’s role as a pan-European banking solution could become more valuable than ever.
Pictured: Co-founders Daniel Kjellén (CEO) [left] and Fredrik Hedberg (CTO) [right]
Citizens Bank and Bizagi webinar: Meet the speakers
In Citizens Bank’s upcoming webinar, the company will discuss how digital transformation has enhanced critical banking processes.
Having provided an overview of the and the to be discussed, we’d now like to properly introduce the speakers: , Senior VP at Citizens Bank; , Professional Services Director at Bizagi; and , Senior Director at Blue Prism.
Now in his tenth year at Citizens Bank, Dixon heads up the company’s Consumer Banks Intelligent Automation initiatives. Prior to joining, he held previous roles in finance as a COO and a consultant. Dixon also held the rank of Sergeant in the US Army.
Rhule has had a diverse career that include roles at Nike, FedEx, the US HSS, and more, however a common thread has been his skilled application of technology.
Holding Masters degrees in both IT Systems Management and Project Management (both from Keller Graduate School of Management), Rhule joined Bizagi in 2019. As such, he seems to be a natural asset for the company’s mission of creating synergy between businesses and IT.
Finally, Jain joined Blue Prism in 2020. He held a variety of executive positions throughout a long and impressive career. In addition to working at Blue Prism, Jain is also an incumbent Instructor in Intelligent Automation at the University of Toronto.
Jain’s value to Blue Prism is obvious: the company is positioning itself as a leader in intelligent automation, unlocking opportunities for operational efficiency for over 1,800 businesses across 150 countries.