Tink-Raises 103M in Latest Funding Round

Open banking fintech Tink raised $103 million in its latest venture capital funding round. The Stockholm based-organization has raised over $210 million in 2020 and plans to expand its payment platform in Europe.

Despite the hardships of 2020, the Paypal-backed company open banking platform experienced significant growth. The fintech’s valuation appraised nearly 60% this year to $824 million from $504 million at the start of the year. 

“We significantly built out our bank connections across Europe, increasing coverage from 2,500 to 3,400 banks,” Daniel Kjellén, co-founder and CEO of Tink, said in a press release. “We also doubled the fintech users on our platform to 8,000 [this year].”

Tink is part of a growing fintech trend called open banking. Open banking platforms help financ…