Stockholm | Munich | May 20, 2021 – FinTecSystems GmbH, a leading German open banking platform, announced today its combination with Tink AB, the Stockholm-based leading pan-European open banking platform. Drake Star Partners acted as exclusive financial advisor to FinTecSystems and its shareholders on the transaction.
FinTecSystems specialises in account aggregation, data analytics and open banking payments, which’s customers include N26, DKB, Santander, Solarisbank and Check24. With connectivity to more than 99% of banks in the DACH region, alongside leading value-added data services, FinTecSystems delivers account information in a way that enables companies to make better, data-driven and automated decisions. The German open banking platform has unrivalled local customer knowledge in payments, ecommerce, banking, and lending – with open banking payments and risk decisioning being at the core of FinTecSystems’ services.
Tink’s technology and connectivity already power some of the world’s leading banks and fintechs, including PayPal, NatWest, ABN AMRO and BNP Paribas. The acquisition builds on the €175 million investment Tink secured through two funding rounds including a group of high-profile investors including Insight Partners, Heartcore, Eurazeo and Paypal Holdings in 2020, and complements Tink’s organic growth strategy to enhance its platform, increase connectivity and expand its product offering across Europe.
The combination of Tink and FinTecSystems will offer both local and international customers in the region the most complete solution when partnering for open banking technology.
Daniel Kjellén, co-founder and CEO, Tink, said: “Germany is a key market for Tink, and we are excited to have acquired an innovative leader with a strong reputation for the quality of its bank connectivity and payments services. We have followed FinTecSystems for many years and are impressed by what they have achieved. Through this acquisition, we are taking a big step into the DACH region, and we look forward to supporting the FinTecSystems’ team to further accelerate their growth.”
Stefan Krautkrämer, co-founder and Managing Director of FinTecSystems, added: “We are proud to have built the leading open banking platform in DACH, serving some of the biggest and most innovative financial institutions and fintechs in the region. Now we are equally proud that FinTecSystems will become part of Europe’s leading open banking platform. By joining forces with Tink, there is a unique opportunity to further strengthen FinTecSystems’ position as the open banking leader in the region, and better support our clients to expand across Europe.”
Stefan Krautkrämer continues: “I would like to thank especially Drake Star’s team for their strong support in this transaction. We benefitted strongly from Drake Star’s excellent sector knowledge, global network, and strong execution skills, which enabled us to find the perfect partner for the future and at the same time achieve an outstanding result for our shareholders.”
Julian Ostertag, Managing Partner, Co-Founder & Member of the Global Executive Committee of Drake Star Partners, said: “FinTecSystems operates the leading platform in the DACH open banking market. We believe the combination with Tink will enable FinTecSystems to rapidly expand its product offering and customer base across Europe. It was exciting to work with Stefan and his entrepreneurial management team as well as the shareholders on this highly complementary combination.”
Drake Star Partners’ team: Julian Ostertag, Sebastian Kimmerl, Pablo Lundershausen, Julian Wolf
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FinTecSystems is a leading German open banking platform specialising in account aggregation, data analytics and open banking payments. With connectivity to more than 99% of banks in the DACH region, alongside leading value-added data services, FinTecSystems delivers account information in a way that enables companies to make better, data-driven and automated decisions. FinTecSystems serves more than 150 banks and fintechs in the DACH region. Founded in 2014, FinTecSystems’ 67 employees operate out of four offices in Germany.
For more information, please visit www.fintecsystems.com/en/
Tink is Europe’s leading open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. Founded in 2012 in Stockholm, Tink’s 400 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries. Tink powers the new world of finance.
For more information, please visit www.tink.com
Drake Star Partners is a global investment banking firm serving the technology, media and communications sectors (TMC) with offices in New York, London, Paris, Munich, San Francisco, Los Angeles, Berlin, Geneva, Singapore* and Dubai*. The firm focuses on M&A and corporate finance for its clients worldwide. Drake Star Partners completed over 400 transactions since 2004, 70% of which are cross-border.
Drake Star Partners is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Kession Capital Ltd (FRN582160) which is authorised and regulated by the Financial Conduct Authority. © 2016 Drake Star Partners Limited.