A Swedish open banking platform, Tink has expanded partnership with PayPal and received additional investment.

Bloomchain.ru reports that this is PayPal’s second investment in Tink. The amount is not disclosed. Last year PayPal invested USD 11.2m in Tink, and since foundation, the platform has raised over USD 205m.

Now PayPal will cooperate with Tink in the entire European economic zone. PayPal intends to integrate Tink’s cloud platform with its account aggregator.

Launched in 2013, Tink initially created a service that enabled users to manage different bank accounts via one app. Since then Tink’s product has evolved into a fully-fledged banking platform which serves fintech unicorn Klarna, financial group Nordea and Swedish neobank SBAB among others.


Tink combines payment solutions with the tools for analysis and management of personal finance. The company’s APIs allow the clients to use aggregated financial data, receive and make payments, process transactions, and create customized tools for management of personal finance.

PayPal’s new investment will be added to the funds which Tink raised in January 2020, when it raised EUR 90m in the investment round led by venture firms Dawn Capital, HMI Capital and Insight Partners.

According to Tink, its APIs are used by over 2,500 banks in 14 countries with a combined client base of over 250 million people.

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