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Tink eyes European domination as it makes strategic acquisition of credit decisioning firm

Fellow Swedish fintech Instantor handles more than 5m credit decisions annually and already operates in 13 European markets.

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Daniel Kjellén/Tink

Open banking platform Tink has acquired fellow Swedish fintech Instantor, further expanding its portfolio of services on offer. 

Founded in Stockholm in 2010, Instantor helps banks and non-bank lenders to enhance their credit decisioning through the use of open banking and account aggregation. 

The acquisition, of which the price tag has not been disclosed, is the latest effort from Tink to bolster its services on offer with Instantor’s products being made available to all of Tink’s customers. 

Daniel Kjellén, co-founder and CEO of Tink, said: “What Instantor has achieved to date in Europe is impressive. It has deftly proven to be a leading European provider of credit decision solutions based on open banking technology.” 

“We are thrilled to be able to offer Instantor’s market-leading credit scoring products to all of our customers and now look forward to continuing to invest in product development in that domain.” 

Instantor supports more than 5m credit decisions annually and was ranked as Sweden’s second-fastest-growing fintech by the Financial Times in 2019. 

Simon Edström, CEO of Instantor, said: “This move will help Tink expand their product offering and is a unique opportunity to continue to make significant investment in our portfolio of credit decision solutions.” 

“Together with Tink we will create an even stronger European market leader in open banking.” 

The latest purchase comes just shy of four months after Tink acquired Spanish account aggregator Eurobits Technologies.

Tink used a slice of its most recent €90m funding round—a large chunk of which was a strategic investment from payment provider giant PayPal—to acquire the Spanish company, which also saw the fintech not only expand across Europe but enter a handful of markets in Latin America too. 

In May, Tink partnered with Nordic bank Nordea to allow the latter’s customers to access a comprehensive view of their finances, including mortgages, savings, loans and current accounts. 

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