Swedish fintech startup, Tink has recently raised €56 million in a funding round led by US-based Insight Venture Partners and existing investors such as Sunstone, Nordea Ventures, SEB and ABN AMRO Digital Impact Fund. This funding is aimed at fueling its expansion. As per reports, this new funding round takes its value to €240 million.
Tink offers an app, which lets people get an idea of how they are spending across their bank accounts. Launched in Sweden in 2012 by Daniel Kjellén and Fredrik Hedberg, it is a consumer-centric finance app. With bank account aggregation, it provides underlying technology to banks and financial institutions that want to try open banking.