Troubled ASX 200 financial technology stock Link Group’s shares have tumbled to multi-year lows, after fast-growing administration player Grow Inc snatched one of its big clients in superannuation giant HESTA.

Link provided HESTA with retirement and superannuation administration services, which accounted for $50 million, or 4 per cent, of the company’s revenue. This will now shift across to Grow Inc, which also provides back-end administration services but will start using distributed ledger technology by 2025.