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Swedish fintech startup Tink valued at 2 bn SEK

Swedish fintech startup Tink has seen its value more than double since August 2017, to around 2 billion SEK, writes DI Digital.

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According to DI Digital, the evaluation is concluded from a press release by investor Creades, a public company. Creades says it adjusts its evaluation of its 11 percent stake in Tink from 93 to 226 million SEK, based on ”a transaction in Tink”, but does not give away further detail.

On DI Digital’s inquiry, Tink itself declined to comment.

From consumer app to B2B system

Started in 2012 around a pure consumer app, Tink’s app can aggregate data from different banks for overview. The right to do this is supported by EU directive PSD2. Tink has since been reported to have its sales picking up radically in 2018 on the back of a B2B platform offered to banks.

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Targets 220 employees this year

In a Di Digital interview in October with Tink CEO Daniel Kjellén, he boldly stated that five years on, no personal bank representatives will be needed. He urged banks not to watch passively while third-parties take their customer data. He said Tink had 120 employees, planning to add 100 more in 2019. Sales were said to have reached a level corresponding to 100 million SEK yearly.

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