As of 12th Aug 2020

Exec Summary

Banking infrastructure (API) provider for everything banking (account aggregation, payments, categorization etc) for everyone (2500 FIs, all countries) in EU (Except card linking) using PSD2 + scraping combo. Will be atleast $10B company within 5-10 years. (MA or Paypal standing in queue to acquire but they don't want to sell)

Baseball Stats

Founded: 2012

Employees: ~300

Total Raised: ~$150M

Valuation: ~$500M

https://tink.com/

Funding

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/8dcf3b85-8e3a-4c31-b171-1070a1c368e2/Untitled.png

Key Investors

PayPal Holdings,Dawn Capital,,,**HMI Capital,**Poste Italiane,Christian Clausen,Insight Partners,,Nikolay Storonsky,Opera Tech Ventures,RBS Holdings N.V.,Sunstone Life Science Ventures,Nordea Funds,ABN AMRO Ventures,Creades,Skandinaviska Enskilda Banken,Heartcore Capital

Product / Company description

Company

  1. Infrastructure (API) company, leading EUs PSD2 (open banking) wave with combo of PSD2 and scraping technology
  2. Product suite/Use-cases
    1. Account aggregation - Connects with 2500 FIs in EU (95% population coverage, beyond PSD2)
    2. Payment initiation - Pay from one bank to another seamlessly, without going to bank's website
    3. Data enrichment - Insights generation from txns, accurate categorization
    4. PFM - Personal Finance Management
  3. Point solutions
    1. Direct debit setups
    2. Credit scoring
    3. Price comparison - e.g. SBAB Mortgage
    4. Invoice settlement
    5. Account verification
    6. Onboading - autofill info pulled from bank accs - e.g. Avanza
    7. Income verification
    8. Cashflow monitoring continuously
    9. KYC
    10. Real time balance check

Use-Cases

  1. PFM by incumbent banks withing their own apps using Tink's Account Aggregation - e.g. Banks offer customers to view all their accounts (even with other banks) within their app using Tink AA APIs. e.g. ABN AMRO’s Grip - 4.4. rating + 500k downloads, CGD’s DABOX (Portugal), BNP Paribas Fortis
  2. Data enrichment - Better categorisation of expenses within bank's own app - e.g. SEB banking app

Corp-dev

  1. Recently acquired Instantor ($4M rev) - instant credit decisioning provider based on PSD2 data analytics

Market (TAM) / Competition

Charges €0.35 per user per month, so a simplistic TAM assumption is

  1. Out of total EU population, ~450M have bank accounts, with 20% market share and adoption of digital banking - ~90M users = $22M monthly rev (minimum) = $250-300M ARR (at 10x Multiple given high GM business, its worth $3B minimum)→ https://www.wsbi-esbg.org/press/latest-news/Pages/Close-to-40-million-EU-citizens-outside-banking-mainstream.aspx)

Competition

Metrics/Traction

  1. 5000 developers, 250 bank customers, 10b+ annually processed

Team

  1. Daniel Kjellen - CEO - 2nd time founder, ex Ibanker
  2. Patrik Göthlin - COO - ex MD Bambora, ex Bain & Co Principal (joined 1yr back)
  3. Fredrik Hedberg - CTO

All CxOs are highly experienced (>35yrs age). Added COO to mgmt team last year. Growing rapidly ( from 100 to 270 in ~1.5 yrs and 13 offices)

Customer / Employee Feedback

Employees

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/21f0b567-a767-4311-a1e1-c2525f6704cd/Untitled.png

Hiring mostly engineers

https://www.linkedin.com/company/tink-ab/jobs/

Product Screenshots/Details