Subscription management tool for online banks Minna Technologies just announced it has received a $6.3 million (€5.6 million) investment, bringing its total funding to almost $9 million.
Zenith Group led the round, followed by Visa and existing investor Swedbank. Minna will use the funds to increase its presence in Europe. To support these plans, the company will bolster its team and open a new office in Europe.
“This investment round makes it possible for us to scale up and execute on our European expansion plans. As many European banks have started to embrace FinTech partnerships, we have seen a dramatic increase in the interest of our subscription management platform,” said Minna CEO and Cofounder Joakim Sjöblom. “Our current bank partnerships have proved that subscription management is well received by banking customers and that it is an essential part of digital banking.”
Founded in 2014, Minna originally began as a consumer-facing app for subscription management, then launched as a bank-integrated platform in 2016. Since then, the company has helped consumers save more than $33.5 million in unwanted subscriptions. The company is partnered with several top-tier banks across Europe, including Swedbank and Danske bank, and has a pilot agreement with OP bank.
Sjöblom demoed Minna at FinovateEurope 2019 in London. The company is headquartered in Gothenburg, Sweden and has 34 employees. In 2017, the company’s revenues totaled $536,000.
A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.
Minna Technologies is the world’s leading subscription management solution, built to be integrated with retail banks.
Stimulate customer engagement and customer satisfaction
Experience new revenue streams, enabled by Open Banking
Learn how Minna can increase conversion rates of your core financial products
Why it’s great
Digital banking and personal finance management are moving from insights to actions. Forget about graphs and pie-charts; the real value comes when you help the customer to make a real change.
Joakim Sjöblom, Co-Founder and CEO
Sjoblom has founded three companies over the last 10 years and spent the latest five years within fintech. As a founder of Minna Technologies, he conducted partnerships with leading retail banks. LinkedIn