Gothenburg, 17th May 2019: In the three years since its banking products were first announced on stage at STHLM Tech Meetup, Minna Technologies has emerged as one of the most significant contributors to making subscription management easy with financial technology.
Today, Minna Technologies announces a €5.6M Series A investment led by Zenith Group. Also participating in the funding round were Visa and existing investor Swedbank.
“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. 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.“, says Joakim Sjöblom, co-founder and CEO, Minna Technologies.
“We’re thrilled to become a part of Minna Technologies ongoing journey. We can clearly see what values Minna Technologies creates for the end-user through bank partners and we’re looking forward to supporting the company taking this offer throughout Europe”, says Tommy Jacobson, Chairman of the board, Zenith Group
“Minna Technologies is run by a strong team who have developed a scalable bank grade technology platform with a high level of automation that is ready to scale out in Europe. We further strongly believe in the underlying trends that Minna Technologies builds their business on in terms of the growing subscription economy, banks willingness to collaborate with FinTech companies and consumers wish for an easier way to access actionable insights that help improve their personal finances. We’re also happy to make this investment together with Visa and Swedbank, which alongside the entrepreneurs and the earlier investors gives Minna Technologies a strong and relevant group of owners for the continued expansion”, says Erik Lindblad, investment manager, Zenith Group
“Minna Technologies has a strong focus on constantly improving the digital user experience, while at the same time offering the bank’s customers hands-on tools that simplify their everyday lives. Our innovation collaboration with Minna Technologies has already from the start of 2017, helped to secure our future business model, while at the same time contributed to increased customer value. As an investor and partner, it will be very exciting to see Minna Technologies grow further and expand its successful business to Europe.” says Lotta Lovén, Head of Digital Banking Swedbank.
The investment allows Minna Technologies to pursue its ambitious growth plans over the next years. Minna Technologies will now increase its European presence and aims to be the FinTech partner of choice for any bank who wants to improve their digital banking experience.
To support the expansion plans, Minna Technologies is increasing the size of the company and its geographical reach. The company plans to strengthen its team with important key competencies and aims to open up a new office in Europe – placing themselves closer to the customers.
The news was originally published on Minna Technologies’ website on May 17, 2019.