Moxtra and Subaio Earn Spots in Plug and Play’s Fintech Europe Program

A pair of recent Finovate alums have made the cut for the Fintech Europe Innovation Program sponsored by Plug and Play. Moxtra, most recently appearing on the Finovate stage in 2017, and Subaio, which made its Finovate debut earlier this year at FinovateEurope in Berlin, will join six other startups in the program’s sixth cohort since it was launched two years ago.

“Even though COVID-19 has brought uncertainty to the market, it has also given way to a wide range of opportunities,” Program Director of Plug and Play’s Fintech Europe program Fernando Zornig said. “Embracing innovation in finance is now more important than ever. We are seeing a lot of changes in Europe and I am confident that these solutions will help our corporate partners adapt to these changes faster.”

Companies participating in the program will engage with Plug and Play’s 13-member, financial institution partner community, which includes Deutsche Bank, BNP Paribas, and Raiffeisen Bank International. The startups will have the opportunity to pursue pilot projects as well as investment opportunities. Joining Moxtra and Subaio at the Frankfurt, Germany-based program are:

  • ABAKA
  • CARTO
  • Delio
  • Envio Systems
  • SESAMm
  • Vizolution

Headquartered in Cupertino, California, Moxtra offers a OneStop Customer Portal that gives businesses a “digital branch” through which they can engage and collaborate with customers. Moxtra’s solution provides an all-in-one suite of services including secure chat and video meetings, document collaboration and task management, video conferencing and transactions, and more. This spring, the company was named to Fintech Global’s second annual Wealthech 100 roster.

Subaio provides a white-label, subscription management platform that enables users to get a complete overview of their existing subscriptions. The technology makes it easy for users to cancel subscriptions they no longer want and keep track of any changes in the subscription services they wish to keep. Headquartered in Denmark and founded in 2016, Subaio has a number of live bank integrations of its solution, including a just-announced partnership with ABN Amro.

Founded in 2006 and headquartered in Silicon Valley, California, Plug and Play is a worldwide innovation platform that offers accelerator programs, corporate innovation services, and its own in-house venture capital team. More than 30,000 startups have benefitted from Plug and Play’s resources and support, with companies in its ecosystem raising $9+ billion in funding to date.


Photo by Steve Johnson from Pexels

ABN AMRO Adds Subscription Management Courtesy of Subaio

ABN AMRO is updating its Grip app this week by integrating Subaio’s white label subscription management feature for banks.

The integration comes at a time when users are spending more than ever before on subscriptions, especially digital subscriptions such as movie streaming services and cloud storage products. According to the New York Times, consumers spent an average of $640 on digital subscriptions in 2019, up 7% from 2017.

ABN AMRO’s Grip PFM app now leverages Subaio’s subscription management feature that enables users see all of their recurring payments in one place. The tool alerts users of any changes in subscriptions and even helps them cancel subscriptions from within the app. Subaio relies on an algorithm that uses machine learning to detect patterns in frequency, amount, merchant name, and more.

“Since the launch we’ve already seen tens of thousands of Grip users coming in to see their overview and also cancel subscriptions. It’s fantastic to help people get control of their subscriptions,” said Subaio CEO Thomas Laursen.

Today’s partnership with ABN AMRO is Subaio’s seventh bank partnership. Among the company’s other partners are Nordea and challenger bank Lunar. The company has found that the average user has eight different subscriptions, and that the users are saving $253 (€213) every time they use Subaio’s solution to cancel a subscription.

Founded in 2016, Subaio showcased at FinovateEurope 2020. The company has raised $2.4 million and has 20 employees.


Photo by freestocks on Unsplash

FinovateEurope Sneak Peek: Subaio

A look at the companies demoing at FinovateFall on September 14-16, 2020. Register today and save your spot.

With Subaio, take control of your subscriptions, see all your recurring payments, cancel subscriptions and get notified about changes – all in a white-label setup.

Features

  • Overview of all recurring payments
  • Ability to cancel subscriptions
  • Smart notifications about changes to recurring payments

Why It’s Great
35% of bank customers want their bank to deliver a subscription management service to them according to Cicero Consulting. Subaio helps you gain control of your subscriptions.

Presenter

Soren Nielsen, Chief Commercial Officer
Nielsen is a seasoned fintech entrepreneur who’s built successful teams in the past. Always with an emphasis on the ‘why’. It needs to make sense. Like it does as the CCO of Subaio!
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