Minna Series-B

This is the Minna pitch deck to raise a $18.9m series-b round in 2021.

About

Minna Technologies is a Swedish tech company established in 2016, on a mission to help retail banks and subscription businesses deliver powerful digital experiences within subscription management. Partnering with top-tier banks and backed by some of the biggest financial companies in the world, currently, around 20 million people benefit from Minna’s subscription solutions.

The coronavirus pandemic has resulted in an uptick in subscriptions, as people spend more time inside and on entertainment.

The average European is spending €333 ($405) a month on 11 subscriptions. That is predicted to increase to €508 ($618) a month on 17 subscriptions by 2025, according to research by Minna, a startup that partners with banks to offer simple subscription ending and switching tools to customers.

Minna, founded in 2016, has just raised €15.5 million ($18.9 million) in Series B funding in a round led by Element Ventures. The company has recently partnered with Lloyds Banking Group and claims to have saved more than €40 million ($49 million) for retail banking clients at other partners Swedbank and ING.

“We’ve raised this Series B because we are having even faster traction now outside of Europe, from Turkey, Brazil, the UAE, and in North America,” CEO Joakim Sjöblom told Insider in an interview. “Being in front of the wave is very important and the subscription economy is a key trend.”

MiddleGame Ventures, Nineyards Equity and Visa also joined the fundraising.

“Over the past four years, the subscription economy has exploded from Spotify and Netflix to even iPhones and cars. It’s becoming increasingly difficult for consumers to keep track of the payments and harder for banks to handle inquiries to shut them down,” Sjöblom added.

The funding will go towards expanding Minna’s offering further in Europe and expanding its global footprint while scaling its technology infrastructure. “How can a bank compete with big tech when they enter fintech?” Sjöblom said. “We help them to compete with neobanks by adding new revenue streams from their existing customer base because we want to avoid them becoming another Kodak or Nokia.”

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