Former Tink employees raise 5 million euros for the Atlar startup

Digital bank

Index Ventures led the seed round for the new payments automation startup.

Image source: Joel Wägmark, Johannes Elgh, Joel Nordström/Atlar.

Next visas acquisition of Tink for $1.8 billion last year, three members of the fintech team set out to create their own startup – a banking payments platform for the automated movement of money.

Founded by Joel Nordström, Joel Wägmark and Johannes Elgh in May, Stockholm-based startup Atlar has now raised a €5m seed round led by Index Ventures.

The round also saw the participation of a number of angel investors, including Revolution Chief Financial Officer Mikko Salovaara, N26 CFO Jan Kemper and former Executive Vice President of Global Sales at Adyen Thijn Lamers, as well as La Famiglia VC and Cocoa.

“While fintech tools have provided innovations for businesses in accepting payments and ‘open banking’, similar developments have not arrived to enable payment streams that begin in a company’s own bank accounts. “, Atlar wrote in a blog post.

“That’s where we come in.”

With around €260 trillion passing through European banks in payments, insurance premiums, deposits, etc. each year, Atlar allows companies to connect to its platform via an API which then connects to their banks.

Businesses are then able to automate all of their payment activities, including the initiation and reconciliation of transfers as well as the management of direct debits.

Atlar has already onboarded a number of early customers to its platform, including insurance company Lassie, payments company Mynt and German fintech lender Banxware.

“After going through the pain of building our own banking integrations and setting up a back-office team, we were thrilled to partner with Atlar,” said Banxware Founder and COO Nicolas. Kipp.

“Their platform gives us exactly what we need to manage our bank payments, allowing us to focus on our core business.”

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