Sweden-based personal finance technology developer Tink has secured $16.4m in a round backed by financial services firms SEB, Nordea and ABN Amro.
The round also included contributions from venture capital firm Sunstone and investment firms Creades and Nordnet, the latter participating through its fintech investment arm, Nordnet Ventures.
Tink has developed technology that enables users to view and manage financial accounts with multiple institutions in a single place. It is accessible through the company’s own app and has been licensed to others to integrate into their own platforms.
In addition to investing, Nordea and Nordnet have signed licensing agreements for Tink’s technology, joining SEB and ABN Amro, both of which formed their own agreements with the company in 2016.
Tink previously raised $10m in series B funding in May 2016 from ABN Amro, Creades, Sunstone and SEB Venture Capital, SEB’s venture capital arm.
The company’s 2013 seed round brought in $800,000 and was followed by $4m in series A funding in 2014 from Sunstone, angel investor Sven Hagströmer and undisclosed existing backers.
Daniel Kjellén, CEO of Tink, told PaymentEye: “We will be live in 10 European markets at the beginning of 2018 and are excited to be working with new customers who, like us, want to improve the consumer experience and build a world where managing money is effortless and rewarding.
“Our technology transforms the industry by helping banks build an entirely new customer experience that allows their customers to understand their money, empowers them to make smarter choices and ultimately brings them financial happiness.”