Major banks invested 13 million EUR in fintech startup
By Go See Talents | October 26, 2017
This week the Swedish news site Breakit shared that major banks such as SEB, Nordea and Nordnet just invested 13 million EUR in the Stockholm based fintech startup Tink. This is definitely another step in the new trend that we have been witnessing in the fintech market recently.
Fintech is one of the hottest markets right now. According to Nordic Tech List, more than 103 million EUR was invested in Swedish fintech companies in 2016. But the major banks has been cautious about investing in the sector. Until now.
Recently we have seen a new trend. Swedish banks have realized the great potential of the fintech startups and are starting to collaborate by forming their own venture capital companies. One example of that is when Swedbank in April made their first fintech investment and invested 15,5 million EUR in the startup Mina Tjänster.
This week, banks such as SEB, Nordea and Nordnet follow the successful trend and investing 13 million EUR in the economy app Tink.
This is a positive new trend that will help to accelerate the pace of innovation in the banking sector.