Tink, the leading European personal finance app, today announced that the company closed $4 million in Series A funding led by Sunstone Capital, with participation from financial entrepreneur Sven Hagströmer and existing investors. The investment will be used by Tink to expand internationally, to further develop the product and to recruit new talent.
Tink is the simple, smart and fun way to keep track of your money. After connecting Tink to your bank accounts and credit cards, Tink continuously collects, sorts and analyses everything about your personal finances. Tink was created for the young and mobile who normally think personal finance is boring and typically do not set up budgets.
Tink is available on iOS and Android and its ambition is to become the mobile app that provides new insights about your personal finances every time you open it. Since the launch in Sweden in September 2013, over 200,000 people have set up a Tink-account and the company is now preparing for its European expansion.
Tink CEO Daniel Kjellén says: “Personal finance doesn’t have to be boring or time consuming. We make something that in just seconds gives you valuable, fun and actionable information about your spending. The fact that Tink is fully automated and everything is presented in a feed format makes it useful even if you only have 2 minutes to spare. We think this is key to why the typical users is a 23 year old female, using Tink 2-3 times per week.“
Additionally, Christian Lindegård Jepsen, general partner and co-founder of Sunstone Capital, will join seed round investor Nicklas Storåkers, on Tink’s board of directors comments the funding round: “Personal finance is of huge importance for most people and Tink has approached this in a totally new way, making it fully automated and with a beautiful UI thus appealing new audiences. The market reception in Sweden has been fantastic and I have no doubt we will see the same level of adoption throughout Europe and eventually the U.S. We have also been very impressed by the team and I really look forward to joining the board and support Tink in going international.”