Visa To Buy Tink, $1.8 Billion
Summary
Visa will pay total financial consideration of 1.8 billion Euros, inclusive of cash and retention incentives, to acquire the Swedish company. The combination of Visa’s infrastructure and investment in resilience, cybersecurity and fraud prevention with Tink’s APIs, technology and customer relationships is expected to help accelerate the adoption of open banking in Europe. Through a single API, Tink allows its customers to access aggregated financial data, use smart financial services such as risk insights and account verification and build personal finance management tools. Tink will retain its brand and current management team, and its headquarters will remain in Stockholm, Sweden, led by Daniel Kjellén, CEO and co-founder. The company’s 400 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries.