Visa pays $2.2bn for Swedish fintech Tink

摘要

Card giant Visa has acquired the Swedish fintech group Tink in a $2.2bn deal. The agreement, secured in June 2021, comes just six months after Visa's bid for a similar US fintech, Plaid, which was ultimately rejected by US regulators. Tink, Europe's largest open banking platform, counts more than 3400 banks and financial institutions as its customers. It will maintain its existing branding and management team, as well as its headquarters in Stockholm. The deal remains subject to regulatory approval, as well as other closing conditions. The price of the acquisition constitutes a 165% premium on Tink's valuation from December 2020, when the company embarked on a fundraising round, which drew the interest of big-league investors including PayPal and BNP Paribas.