Insight Leads Investment in Open Banking Platform Tink

March 8, 2019

Willkie represented Insight in the transaction.

Open banking cloud-based platform Tink announced it completed a €56 million investment round, the company’s largest to date, and is launching its developer platform in five new markets.

Global venture capital and private equity firm Insight Venture Partners led the funding round. Also participating were existing investors Sunstone, SEB, Nordea Ventures and ABN AMRO Digital Impact Fund. They were joined by new investors Christian Clausen, former Chairman of the European Banking Federation, and Nikolay Storonsky, founder of Revolut. 

Tink’s launch in five new markets brings its total to nine locations, and significantly boosts its European coverage. Developers can get access to financial data in the Nordics, the UK, Austria, Germany, Belgium and Spain through Tink’s account aggregation API. 

Founded in Stockholm in 2012, Tink is a cloud-based platform that provides infrastructure and value-adding data products in the financial services industry. Tink’s products can be used to develop standalone services or be integrated into existing banking applications. The company has 150 employees and its partners include SEB, ABN AMRO, BNP Paribas Fortis, Nordea and Klarna. 

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. 

The transaction was led by Willkie partners Gordon Caplan and Matthew Guercio and included associates Sarah Wong and Kevin Tarsa.