In a round led by Sunstone Capital, Swedish personal finance management innovator Tink raised $4 million in new funding.
The capital will help fuel the company’s expansion internationally, as well as help grow the team and continue product development.
Also participating in the round was entrepreneur Sven Hagströmer, along with additional existing investors. The investment brings the company’s total capital to $4.8 million.
The investment also brings Christian Lindegård Jepsen, Sunstone Capital general partner and co-founder, to Tink’s board of directors, Jepsen specifically referenced the “beautiful UI” of Tink’s PFM app, as well as the degree of automation, which he said would help speed adoption.
Tink CEO and founder Daniel Kjellén echoed this point, saying “the fact that Tink is fully automated and everything is presented in a feed format makes it useful even if you only have two minutes to spare.”
Tink has more than 200,000 users, with the average “Tinker” being a 23 year old female who uses the app two to three times a week, according to the company. The app is available for both iOS and Android.
Based in Stockholm, Sweden, Tink demoed its technology at FinovateEurope 2014 in London, where it won Best of Show. See the company in action here.