Tink raises $10 million from Creades and SEB to launch virtual bank

Tink announced today that they closed their Series B funding led by Creades and SEB that together with ABN AMRO and Sunstone Capital invests $10 million in Tink. The money will be used for the launch of a virtual bank and for international expansion.

Tink has since the launch in Sweden two and a half years ago established themselves as one of Europe’s largest personal finance apps with around 350 000 users. Tink allows the user to collect all her banks and payment cards in a single app, making it easy to keep track of her finances.

Now Tink is breaking new ground and will shortly launch Tink 2.0 that allows the user to manage her money across any account in any bank. She will be able to do all her regular banking – such as transfer money, make payments, scan and approve bills – through any bank directly in the Tink app.

“Ultimately, it’s about building a virtual bank, helping people with banking without being a bank – the consumer will not only get a better understanding, tips and advice on her finances, but also the ability to take action on it”, says Fredrik Hedberg, founder and CTO of Tink.

“We think it should be easy to make smart financial decisions and we want to contribute to a greater transparency in the industry, which will benefit both the consumer and the best banks. To get investors with such solid experience and the ability to develop partnerships with traditional banks is of course a huge asset for a company like Tink”, says Daniel Kjellén, founder and CEO of Tink.

The financing is led by Creades and SEB, which together with ABN AMRO and Sunstone Capital invests $10 million in Tink. Creades has previously been involved in the creation of innovative fintech companies like Avanza and Klarna. SEB is not only one of the largest and most digitally progressive banks in the Nordics but also early investors in fintech company like iZettle.

“We have followed Tink since the inception of the company and are convinced that the company has huge potential. With a strong team and an innovative product, the new Tink will really change the banking industry”, says Per Frankling, CEO of Creades.

“Through the partnership with Tink we will be able to develop even better digital offerings for our customers. The combination of our integrated offering and Tinks functionality is a good example of how established banks and Fintech companies can create customer value together, says Christoffer Malmer, co-head of the division Corporate & Private Clients at SEB.

About Tink

Tink is a virtual bank built on top of the user’s existing bank accounts. In the Tink app, the user can manage her money across any account in any bank. She can transfer money, pay bills and create personal budgets while Tink provides unique insight, automatically categorized transactions and daily analyses of her spending. Founded in Stockholm by entrepreneurs Daniel Kjellén and Fredrik Hedberg, Tink today have around 350 000 users and is one of Europe’s most used personal finance apps.

About Creades

Creades is an Swedish investment firm that is long-term committed owner in small and medium sized listed and private companies. Creades mission is to provide good risk-adjusted returns for its shareholders, primarily by investing in businesses where Creades can act as a committed owner. The holdings include Avanza Bank, Acne Studios, Transcom, Martinet and Lindab. Creades has extensive experience in investing in financial companies, except Avanza Creades has been former owner of eg. Klarna and Carnegie.

About SEB Venture Capital

SEB Venture Capital – the venture capital arm of the Swedish bank SEB – invest capital and supply expertise and a broad network of contacts to expanding Technology & Life Science companies and to mature Growth companies in general.


ABN AMRO is a Dutch bank for retail, corporate and private banking clients. We offer our clients a comprehensive and full range of – digital – products and services as well as in-depth financial expertise and extensive knowledge of numerous industry sectors. From its Digital Impact Fund, ABN AMRO invests in Fintech startups in order to utilise their knowhow, technology and innovative capability in the service of its clients. Headquartered in Amsterdam, ABN AMRO is located in over 20 countries and employs more than 22,000 people worldwide.

About Sunstone Capital

Sunstone Capital is a leading European venture capital firm with over $1 billion in assets under management. Since 2007, Sunstone has invested in early and growth stage European companies, including notable businesses such as Prezi, Podio (acquired by Citrix), GetYourGuide and many others.

Press Contact

E-mail: press@tinkapp.com