Fintecsystems specializes in data analytics, digital account verification, account aggregation, and open banking payments. The company counts N26, DKB, Santander, Solarisbank, and Check24 among its customers. Munich provide account information that enables companies to make better, data-driven, and automated decisions. Fintecsystems claims to be involved in three out of four online credit decisions in Germany.
“Germany is a key market for Tink”
Founded in 2014, the company employs 67 people at four German locations. Fintecsystems will remain in operation after the acquisition and will continue to serve customers in German-speaking countries. Stefan Krautkrämer, Co-Founder and Managing Director of Fintecsystems, says:
"We are proud to have built the leading open banking platform in DACH and to serve some of the largest and most innovative financial institutions and fintechs in our region. Now, we are equally proud to have Fintecsystems become part of Europe's leading open banking platform. Joining forces with Tink provides a unique opportunity to further strengthen Fintecsystems' position as the open banking leader in the region and better support our clients in their expansion across Europe."
Thereniel Kjellén, Co-Founder and CEO of Tink, says:
"Germany is a key market for Tink, and we are delighted to have acquired an innovative market leader in banking connectivity and payment services. We have followed Fintecsystems for many years and are impressed by what they have achieved. This acquisition marks a major step into the DACH region, and we look forward to supporting the Fintecsystems team in further accelerating their growth."
Tink secured the funds for the acquisition last year through a €175 million investment in two financing rounds. Tink was founded in 2012 and is headquartered in Stockholm. The company currently serves 18 markets from 13 local offices.
