Swedish open banking platform Tink has acquired Instantor, a provider of credit decisions software used by more than 150 live customers, including banks and fintechs across 13 European markets.
Founded in 2010, Instantor provides banks and fintechs across Europe with data to help them improve their credit decisions by verifying an individual's identity, income and expense, based on account aggregation technology.
Headquartered in Stockholm, Instantor supports more than 5 million credit decisions annually and had an annual revenue of €4M in 2019.
The technology will now be made available to all Tink customers on top of the firm's open banking connectivity.’
The transaction comes on the back of a €90 million financing round in January and the acquisition in March of Eurobits Technologies, a Madrid-based provider of account aggregation technology, for €15.5 million.