Tink acquires Eurobits
Open banking platform Tink is acquiring Eurobits Technologies , a provider of account aggregation services powering over 50 banks and fintechs for €15.5 million.
Founded in 2004, Eurobits serves some of the largest fintechs and financial institutions across Europe, providing connectivity to bank account information for banks, fintechs and payment providers. Eurobits is live with customers in 11 markets, handling more than 50 million account aggregation requests every month. In addition to its European focus, Eurobits also serves customers with account aggregation services in Mexico, Chile, Colombia, Argentina and Peru. Eurobits’ 54 employees will become part of the Tink team.
The acquisition of Eurobits builds on the €90 million investment Tink secured in January, helping the startup increase its bank and financial institution connectivity in 17 markets, predominantly in Europe and in Latin America.
“Tink is undoubtedly one of the most innovative companies within open banking. Joining forces with them to help expand their coverage across Europe and Latin America is a unique opportunity, not only for both of our businesses, but for the broader industry as a whole. We can not wait to join forces with Tink to create an even stronger European market leader in open banking.” – Arturo Gonzalez Mac Dowell, CEO, Eurobits.
“We are extremely impressed by the Eurobits team, what they have built and their very strong position in Southern Europe. This acquisition is part of our ongoing investment into our pan-European open banking platform that through this move will be live in 17 markets. Not only does it 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.” – Daniel Kjellén, cofounder and CEO, Tink.
“Open banking is transforming finance – increasing financial inclusion, and helping our clients have a bird’s eye view of every aspect of their financial lives in one place. Tink and Eurobits joining forces is a significant moment in the industry, with two leaders in the open banking space coming together with a common vision of making open banking more accessible for everyone.” – Ana Climente Alarcón, Head of Open Banking, BBVA Spain.
