Tink completes its €15.5m takeover of Spain’s Eurobits

By Oliver Smith on Wednesday 4 November 2020

Digital Banking

A deal which started on the eve of lockdown.

Tink completes its €15.5m takeover of Spain’s Eurobits
Image source: Daniel Kjellén/Tink.

Open banking provider Tink has closed the acquisition of account aggregator Eurobits Technologies, its €15.5m deal which was announced in March.

The completion means that Spain’s central bank, Banco de España, has approved the deal and that Eurobits’ 54 employees will now join Tink, pushing its total headcount to 365 employees.

It will also boost Tink’s coverage from 13 to 17 markets, with Eurobits bringing more coverage in Europe and Latin America and with that new fintech and banking customers including BBVA, Santander, Sabadell, Fintonic, the National Bank of Greece and La Banque Postale of France.

In March Tink CEO and co-founder Daniel Kjellén said the deal would​: “strengthen our platform through increased connectivity, it also gives existing Eurobits customers access to our payment initiation and data services.”

“We look forward to coming together with Eurobits to enhance the connectivity and open banking technology for Europe’s banks, fintechs and startups.”

Eurobits wasn’t the only acquisition for Tink this year, it  also snapped up OpenWrks' account aggregation platform in September and fellow Swedish fintech Instantor in July.

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