Payment technology company Visa said it has signed an agreement to buy the European open banking platform Visa for 1.8 billion euros.
Based on the signed agreement, Tink will retain the brand and management team while the headquarters will continue to be in Stockholm.
The deal comes after Visa’s efforts to buy Plaid, a rival of Tink and which was blocked by US authorities.
Plaid was valued at $ 13.4 billion.
Founded by Swedish entrepreneurs Daniel Kjellen and Fredrik Hedberg, Tink started out as a financial management application but later turned technology toward businesses.
With Tink technology, banks and fintech firms can access banking data and create new financial products. / CIO Albanian