Tink, the European open banking platform, announces PayPal as a strategic investor

Tink, the European open banking platform that recently raised €56 million in new funding, is disclosing that PayPal has become a strategic investor. The online payments giant joins a long list of existing backers that includes U.S.-based Insight Venture Partners, Sunstone Capital (which recently re-branded as Heartcore Capital), SEB, Nordea Ventures and ABN AMRO Digital Impact Fund. Individuals such as Christian Clausen, former chairman of the European Banking Federation, and Nikolay Storonsky, co-founder of banking app Revolut, are also investors.