Personal finance platform Tink has closed an investment from ABN AMRO and SEB among several other banks.
The investment was not disclosed, but Banking Technology reports the value was around $14m.
Also taking part in the investment were Stockholm-based banks Nordea and Nordnet, while Swedish payment processor Klarna agreed a licensing agreement with Tink. ABN AMRO has closed a strategic collaboration with Tink, as it aims to use the platform to support its customers.
Sweden-based Tink helps consumers with personal finance by connecting all of their financial services to the platform. Through the application a user is able to manage all of their bank accounts and cards to pay bills, and make transfers between banks.
Management solutions are also available to help a user see analytics of spending, create budgets and saving goals, as well as automatic income and expense categorisation. A consumer is also able to access mortgage deals within Sweden banks and simplify a move of provider.
Earlier this week teenager personal finance platform Current bagged a $5m Series A round led by QED Investors. The company helps children have better financial awareness by giving them access to a debit card and management app to monitor their spending and saving.
Sweden has seen a rise in FinTech funding this year, after H1 seeing $260m deployed. This level of funding is compared to H1 2016, which saw only $135m invested.
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