Personal finance platform Tink secures round of funding

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.

Copyright ? 2017 FinTech Global

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