Sweden-based banking software produce Tink completed a €85m ($103m) on Friday featuring postal service Poste Italiane and subsidiaries of digital payment processor PayPal and financial services firms ABN Amro and BNP Paribas.
Growth equity firm Eurazeo Growth and venture capital firm Dawn Capital co-led the round, which included HMI Capital and Heartcore and which valued Tink at about $825m according to TechCrunch.
PayPal, ABN Amro and BNP Paribas participated in the round through their PayPal Ventures, ABN Amro Ventures and Opera Tech Ventures units respectively. The company has now raised at least $296m since it was founded in 2012.
Tink has developed what it calls payment initiation technology that allows users to make payments and financial transfers on apps or websites in just a few clicks. The funding will support company growth along with the strengthening of its technology.
The round followed a $98.1m round co-led by Dawn Capital, HMI Capital and Insight Partners and backed by Poste Italiane, ABN Amro Ventures, Opera Tech Ventures and Heartcore Capital in January this year at a $452m valuation.
PayPal provided an undisclosed amount for Tink in June 2019, four months after it secured $63.4m from ABN Amro’s Digital Impact Fund, SEB,fellow financial services firm Nordea’s Nordea Ventures unit, Insight Partners, Sunstone, Christian Clausen and Nikolay Storonsky.
The company had raised $16.4m SEB, Nordea, ABN Amro, Sunstone, Creades and Nordnet Ventures in 2017, having completed a $10m series B round the year before that was co-led by SEB Venture Capital and Creades and backed by ABN Amro and Sunstone Capital.
