Tink, the Sweden-based developer of a personal finance tracking app, closed a $10m series B round on Thursday co-led by financial services firm SEB and investment firm Creades.
The round also featured financial services provider ABN Amro and venture capital firm Sunstone Capital.
Tink has built an app that enables users to manage their finances across multiple accounts from a single place. It has accumulated 400,000 users and will use the funding to support the introduction of its next iteration, Tink 2.0, and for international expansion.
SEB, which invested through its SEB Venture Capital unit, provided SEK36m ($4.3m) as part of a strategic partnership that will involve Tink’s technology being integrated into its offering.
Christoffer Malmer, co-head of SEB’s Corporate & Private Clients division, said: “Through the partnership with Tink we will be able to develop even better digital offerings for our customers.
“The combination of our integrated offering and Tinks functionality is a good example of how established banks and fintech companies can create customer value together.”
Tink previously raised $800,000 in a 2013 seed round before adding $4m in series A funding from Sunstone Capital, angel investor Sven Hagströmer and undisclosed existing backers the following year.