Tink names new chairman as Sweden enjoys wave of FinTech success stories

Open banking company Tink has announced Klaus Holse as its new chairman of the board just as Sweden enjoys a surge of FinTech success stories.

The Danish businessman most recently served as CEO of investment management solutions provider SimCorp.

He has also clocked up 11 years of experience Prior at Microsoft, most recently as its president of western Europe. House has also worked as CEO at Internet Ventures Scandinavia and senior VP at Oracle Corp.

“Klaus has a fantastic track-record of scaling software companies globally for over 25 years,” said Daniel Kjellén, co-founder and CEO of Tink. “Klaus’ knowledge of the tech industry and his experience of building partnerships with financial institutions will be incredibly valuable to Tink.”

From now on, Tink’s board consists of Holse and Kjellen as well as CTO and co-founder Fredrik Hedberg and Insight Venture Partners’ Jeff Horing, HEartcore’s Christian Lindegård Jepsen.

“Tink is leading the charge in open banking across Europe with its aggregation and payment products,” said Holse. “On top of this they have built a unique set of products unlocking the value in financial data for the benefit of financial institutions, fintechs, startups and their end users. Tink has built a phenomenal team of some of the brightest minds in the industry. Their ambition and passion made me want to be part of the Tink journey.”

Tink is part of a new wave of Swedish FinTech companies. The clearest example of this is payment and e-commerce giant Klarna, which was recently named Europe’s most valuable privately-owned FinTech company after picking up $650m in a funding round along with a $10.65bn valuation. Other examples include Lendify, Anyfin and Kidbrooke are three other examples of FinTech ventures reaching for the moon.

Looking at the Nordics as a whole, it’s evident that the region is hitting its stride with 2020 already proving to be a record year in terms of investment. FinTech companies in the Nordics picked up $1.17bn in the first nine months of the year, up from the $1.08bn raised in 2019 in total, according to FinTech Global’s research. It is also an impressive jump from the $234.3m raised in 2015.

Nevertheless, Sweden is where most of the action is at. The nation has picked up six of the ten most valuable rounds in 2020. Those were two rounds raised by Klarna, one by Tink, one from Anyfin, one from Lendify and one from Insurello. In contrast, Danish FinTech companies were behind three of the other raises with Norway being behind just one.

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