Open banking platform Tink has completed its acquisition of Spanish account aggregation provider Eurobits Technologies.
Tink announced Eurobits’ acquisition for €15.5m back in March 2020.
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The acquisition has been completed after Tink secured the regulatory nod from the Spanish central bank Banco de Espana.
Eurobits has now officially become a part of Tink, which will extend its banking and financial institution network in Europe and Latin America (LATAM) regions.
As part of the deal, 54 employees of Eurobits have moved to Tink, increasing the latter’s headcount to 365.
However, Eurobits will continue to operate independently in Spain.
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By GlobalDataTink believes that the deal will benefit its new and existing customers from extensive account coverage and financial data access.
The acquisition also brings international fintech and banking customers to Tink.
These include BBVA, Santander, Bankia, Sabadell, Fintonic, National Bank of Greece and La Banque Postale of France.
Founded in 2012, Tink uses a single API to enable banks, fintechs and startups to develop data-driven financial services.
It connects with over 3,400 banks and over 250 million customers across Europe. It serves 14 European markets out of its 13 offices.
In September, Tink acquired OpenWrks’ aggregation platform to forge ahead in the UK.
In the same month, Tink entered into a partnership with Enel X, part of Europe’s largest utility company the Enel Group.
In July, Tink acquired Swedish credit decision solutions provider Instantor to support its continued expansion across Europe.
Sopra Banking Software also teamed up with Tink to promote open banking.
