By Aisling Finn on Wednesday 3 June 2020
PayPal’s cash was part of Tink’s $90m funding round announced in January.
The investment was joined by an expanded partnership that will see Tink’s open banking and account aggregation services available to some users in all countries within the European Economic Area (EEA) through PayPal’s platform.
“We are honoured to have been selected to help this global leader and delighted to have the opportunity to extend our relationship with them following this new agreement and strategic investment,” he added.
Despite the economic turmoil created by the coronavirus crisis, Tink has long set its sight on wider European expansion and in March Kjellén told AltFi that the fintech had “seen no tangible impact of coronavirus.”
Following the closure of its $90m funding raise, Tink and French bank BNP Paribas announced a strategic partnership to implement Tink’s solutions for account aggregation, payment initiation and personal finance management in Belgium and Italy.
Update 03-06-2020 - Article was updated to more accurately describe the nature of Tink and PayPal's partnership.