Tink, a Stockholm, Sweden-based open banking platform, completed the acquisition of Eurobits, a Spanish account aggregation provider.
The €15.5m acquisition was originally announced on 27 March 2020.
Eurobits is thereby becoming part of Tink continuing to function as an independent, regulated company in Spain.
With Eurobits’ 54 employees now part of the organisation, Tink increases its total number of employees to 365. The deal also brings international fintech and banking customers, including BBVA, Santander, Bankia, Sabadell, Fintonic, National Bank of Greece and La Banque Postale of France to Tink. Following the completion of the acquisition, Tink will increase its bank and financial institution connectivity, predominantly in Europe and in Latin America. Its new and existing customers will benefit from broader account coverage and wider access to financial data.
Founded in 2012, Tink provides an open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, the company allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. in Stockholm, Tink’s 365 employees serve 14 European markets out of 13 offices.