Tink originally announced the acquisition of the Spanish account aggregation provider Eurobits Technologies (Eurobits) for €15.5m on 27 March 2020.
Open banking platform Tink completes the acquisition of Eurobits, following regulatory approval by the Spanish national central bank Banco de España. Eurobits is thereby becoming part of Tink.
Following the completion of the acquisition Tink will increase its bank and financial institution connectivity, predominantly in Europe and in Latin America. As a result, Tink’s new and existing customers will benefit from broader account coverage and wider access to financial data.
The completed acquisition also brings international fintech and banking customers, including BBVA, Santander, Bankia, Sabadell, Fintonic, National Bank of Greece and La Banque Postale of France to Tink.
With Eurobits’ 54 employees now part of the organisation, Tink increases its total number of employees to 365.
Eurobits Technologies, S.L. will continue to function as an independent, regulated company in Spain.
Source: Company Press Release