Tink raises $10m series-B from SEB Venture at al.

According to press reports, SEB Venture provided $4.2m as part of the funding round, becoming the fifth-largest shareholder in the business. Following the transaction, the company will share its know-how with SEB to enhance the personal finance managing features of SEB's own banking app.

The funding will enable the company to expand internationally and adapt to the new European banking standards, particularly with regard to the Payment Service Directive approved in January. The new regulation enables third parties to initiate payments into bank systems, allowing mobile apps to deposit and withdraw money.

The company is expected to launch a new version of its mobile app in November 2016.

Previous funding
Danish venture capital firm Sunstone led a $4m series-A round for Tink in September 2014.

Company
Tink was founded in 2013, is headquartered in Stockholm and employs 10 people. The company develops a mobile app focused on banking services, including personal finance management and spending habits mapping.

People
SEB – Christoffer Malmer (co-head of corporate and private customers).
Tink – Daniel Kjellén (CEO).

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• Topics
• Expansion
• Technology
• Nordics
• Sweden
• SEB Venture Capital
• SEB
• Sunstone Capital A/S