Eurazeo invests in Tink, leading open banking platform

Through Eurazeo Growth, Eurazeo invests €33 million in Tink, Europe’s leading open banking platform. This round of €85 million of additional funding, led by Eurazeo Growth brings the total investment in Tink during 2020 to €175 million.

After Younited Credit, Wefox and Thought Machine, Tink is Eurazeo Growth’s fourth investment in the Fintech sector and the first in the Nordics.Tink, a Swedish company founded in 2012, has more than 350 employees and is currently serving its clients out of 13 local offices across Europe. The company offers tools to build the future of financial servicesacross Europe. Tink connects withmore than 3,400 banks reaching over 250 million banking customers across Europe.

Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Tink’s technology and connectivity powers digital services for over 300 world-leading banks and fintechs, including PayPal, NatWest, ABN AMRO, BNP Paribas, Nordea and SEB. Tink’s open banking platform is also used by more than 8,000 developers.

Tink is currently live in Sweden, UK, France, Spain, Germany, Italy, Portugal, Denmark, Finland, Norway, Belgium, Austria and the Netherlands. During 2020, the company made three major acquisitions, Eurobits in Spain, Instantor in Sweden and Openwrks in the UK.These acquisitions enabled Tink to further strengthen its positioning in Spain and in the UK and to complement Tink’s product offering.

The funding will fuel Tink’s continued expansion and support the further development of its technology with a particular focus on payments. The company processes close to 1 million payment transactions per month in 5 markets, for clients including the payment fintech Lydia, used by more than 5 million customers in France. Tink aims to make its payment initiation services live in 10 markets in 2021.

Yann du Rusquec, Partner at Eurazeo Growth, states:

"The open banking movement continues to pick up pace, with 2021 showing every sign that it will bring increased collaboration between fintechs and large enterprises, who want to take digitally enabled services to their customers with a tried and trusted partner. Since its inception eight years ago, Tink has proven itself to be the leading open banking platform in Europe, and our investment underlines the confidence we and the industry have in Tink and open banking. We look forward to supporting them on their continued journey".

Daniel Kjellén, co-founder and CEO of Tink, comments:

“2020 has seen payments powered by open banking take-off, and in 2021 we expect to see this scale –most prominently in the UK, followed by Europe. This funding extension and the partnership with Eurazeo Growth, Dawn Capital and our existing investors will further facilitate the development of our payment initiation services across Europe, while continuing todeliver new data-products built on open banking technology to our customers.”

About Eurazeo

- Eurazeo is a leading global investment company, with a diversified portfolio of €18.8billion in assets under management, including €13.3billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

- Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.•Eurazeo is listed on Euronext Paris.