For his part, Tink’s tech chief said that working with banks is “a really great thing.”
“Obviously for us, it’s a business, it’s a way to get leverage on our technology,” Hedberg said. “But also for the industry, the market and society… it’s going to increase transparency for the market and bring increased competition to the market.”
Fredrik added that, as well as banks, it works with fintechs from Swedish online payments firm Klarna to smaller enterprises that consist of “two guys in their garage.”
“It’s very similar actually between these segments,” he said. “They’re all using our platform to build their next generation of banking products.”
Tink said the funding announced Thursday will be used to fuel the expansion of its development platform — which is used by software developers to get access to financial data — to the U.K., Germany, Austria, Belgium and Spain.
Tink’s Hedberg said that, while the firm was focused on continuing to roll out across Europe, an international expansion beyond the continent was on the horizon.
“While we see it’s very important for us to continue to dominate Europe, this is obviously just the first step,” he said. “We think this is a global trend and a global opportunity for us.”