Minna Technologies Raises €15.5M in Series B Funding

Minna Technologies, a Gothenburg, Sweden-based subscription management software tool, raised €15.5m (£14m) in Series B funding.

The round, which takes the total the company has raised so far to over €23m (£20.8m), was led by Element Ventures, with participation from MiddleGame Ventures, Nineyards Equity and Visa (NYSE:V).

The company intends to use the funds to expand its innovative open banking technology to banks across the world. 

Founded in 2016, Minna enables customers to manage subscription services via their bank’s app. The platform can also notify customers when a free trial is about to end to prevent them from being charged, and facilitates utilities switching to help customers find deals. 

Through partnerships with European retail banks including Swedbank and ING, Minna has saved more than €40m on behalf of the bank’s retail customers. In addition, the company have now partnered with Lloyds Banking Group, which is extending its in app journey which enables customers to manage their subscriptions in a few clicks, whenever and wherever they want.