Acquisition of Fintecsystems

The Munich-based fintech has a new owner: Swedish company Tink is acquiring Fintecsystems. The price amounts to an undisclosed sum in the millions, and Tink intends to expand its market presence with the takeover.

Fintecsystems had originally planned to complete a financing round of up to 15 million euros in 2021, but the fintech has now announced its sale: The Munich-based company is going to its Swedish competitor Tink. The exact purchase price is being kept under wraps, but the founder of Tink, Daniel Kjellén, confirmed to Gründerszene.

"We are proud to have built the leading open banking platform in DACH and some of the largest and most innovative financial institutions and fintechs in our region," says co-founder Stefan Krautkrämer. "Now we are equally proud that FinTecSystems is becoming part of Europe's leading open banking platform." The fintech was founded in 2014 and currently has 67 employees working for Fintecsystems at four locations in Germany. The two teams are to be merged.

Both fintechs have a similar business model: they both serve financial service providers, banks and insurance companies as API providers. Fintecsystems most recently had 150 customers in the DACH region, including N26, Check24 and Solarisbank. Tink, on the other hand, is already represented in 18 European markets. Founded in 2012, the company currently employs 400 people in 13 offices. In future, the Fintecsystems team will also be part of the team.