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Tink secures €90 million in a funding round led by Dawn and HMI Capital

Daniel Kjellén, co-founder and CEO, Tink

European open banking platform Tink has announced a €90 million investment round that was co-led by London-based B2B software venture capital firm Dawn Capital and San Francisco-based investment management firm HMI Capital. It also included the participation of existing investors Insight Partners, Heartcore Capital, ABN AMRO Ventures and BNP Paribas’ venture arm, Opera Tech Ventures. The round also saw the addition of Poste Italiane as a new investor.

Daniel Kjellén, co-founder and CEO, Tink, said, “The investment round will facilitate our ambitious growth plans over the next year and beyond. 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. 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 new round is expected to allow Tink to boost its continued European expansion and will facilitate the development of its open banking platform. The investment follows the recent funding round held in February 2019 where it secured €56 million.

Recently, Tink announced the acceleration of its European expansion with the launch of its platform in Italy and Portugal along with the new offices in Madrid and Milan.

Josh Bell, General Partner, Dawn Capital, added, “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. 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.”

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