A group of former Tink employees has raised €5 million in seed funding for their startup, Atlar, which aims to automate payment activities for businesses.
Founded in Stockholm earlier this year by Joel Nordström, Joel Wägmark, and Johannes Elgh, Atlar emerged following Tink’s €1.8 billion acquisition by Visa. The seed funding round was led by Index Ventures.
Atlar’s platform allows businesses to connect via an API, linking directly to their banks. This integration enables them to automate various payment processes, including initiating transfers, reconciling transactions, and managing direct debits. The company claims that their solution reduces the manual labor needed to handle financial flows and keeps business records up-to-date, minimizing the risk of missed payments and freeing up valuable time for employees.
Atlar has already attracted a number of clients, including Lassie, an insurance provider, Mynt, a payments company, and Banxware, a German fintech lender.