ABN AMRO increases its stake in Tink

Press release -

ABN AMRO’s Digital Impact Fund has increased its stake in Tink. Following its first investment in this Swedish FinTech in May 2016, the Fund is now taking part in Tink’s second investment round.

Tink and ABN AMRO worked together to develop Grip, an app that gives the bank’s clients insight into their financial situation. Since the introduction of Grip in December 2015, more than 300,000 clients have registered for this service. Grip gives them information on and control over their personal financial position. Clients who have used Grip are enthusiastic about the app, which is now also available in English. 

ABN AMRO is very pleased with its strategic collaboration with Tink and expects to create more benefits for the bank’s clients together with Tink. The bank wants to use its expertise to enable its clients to make the best financial decisions.

"The fact that Scandinavian banks Nordea and Nordnet will be taking part as clients and shareholders, and leading FinTech Klarna will be joining as a client, underlines that our collaboration with Tink has been a smart move. We are now eager to expand this partnership," said Hugo Bongers, Director of the Digital Impact Fund. "Our operational collaboration with Grip combined with our shareholding clearly generates added value. We look forward to working together to further expand Tink in the years ahead. As a Digital Impact Fund we can continue to support rapidly growing companies by delivering knowledge and capital."

The Digital Impact Fund is a corporate venture capital fund through which ABN AMRO invests in innovative start-ups engaged in digitalising financial products and services. The fund’s capital amounts to EUR 10 million and has interests in the Swedish company Tink and the American company Cloud Lending Solutions Inc.

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