Tink founders depart to build new AI-driven compliance tech venture Freda
Daniel Kjellén and Fredrik Hedberg, co-founders of Swedish open banking platform Tink, have departed the company and are now working on building a new venture called Freda.
Daniel Kjellén and Fredrik Hedberg plot new venture called Freda
Kjellén and Hedberg, former CEO and CTO at Tink, respectively, announced their departure from the company on LinkedIn earlier this year, along with now former COO Patrik Göthlin.
“It’s been an absolute privilege – and me, Daniel and Patrik will now continue to cheer from the sidelines!” wrote Hedberg, adding that Tink is “now in better hands than ever with Francois Tornier and Mark Nelsen”.
In his own post on LinkedIn, Tornier wrote: “As Daniel Kjellén, Fredrik Hedberg and Patrik Göthlin move on to new adventures, I’m honoured to take the relay and lead the Open Banking teams at Visa.” Tornier’s LinkedIn profile shows he is now CEO at Tink and VP Open Banking at Visa.
Founded in 2012, Tink provides financial institutions and merchants with open banking solutions, enabling them to integrate account-to-account (A2A) payments and develop tailored financial management tools, products and services for European consumers and businesses.
The platform was ultimately acquired by Visa in a €1.8 billion deal finalised in March 2022, with Kjellén and Hedberg continuing to serve as CEO and CTO until their departure.
Figures show that Tink is currently processing over 10 billion transactions per year, and is live across 20 markets in Europe.
“Building something new”
Following their departure from Tink, Kjellén and Hedberg have since announced on LinkedIn that they are “building something new”, with their new venture dubbed Freda.
“We are building the next generation of AI-driven legal and compliance technology,” Kjellén wrote on LinkedIn recently, with the pair seeking a legal lead to join Freda’s founding team.
The pair are also recruiting product designers, engineers and associates to join them at Freda’s office in Stockholm.
Further details about Freda’s strategy and proposed product offering currently remain scarce. FinTech Futures has reached out for comment, but at time of publication has not received a response.
