Investments

Minna Technologies Notches €5.6M In Series A Round

VC Investments

In a Zenith Group-led funding round joined by Visa as well as Swedbank, subscription management platform Minna Technologies has notched €5.6 million in a Series A round. The company started as an app that enabled people to manage subscription offerings like streaming services, telecoms and utilities, according to reports. The funding will reportedly be used to seek partnerships beyond the Nordics and to bolster its staff.

Minna CEO Joakim Sjöblom said, according to the report, “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.”

The company has been at work striking deals to bring its technology directly to banking apps. Consumers can then see all of their subscriptions in a single destination and click to cancel any they don’t want.

In separate funding news from last year, Truebill announced it raised $5 million in Series A funding and launched a variety of new capabilities. Investors in the round included Cota Capital, Social Capital and Troy Carter, among others. The company, which was rolled out as a mobile app to help consumers get refunds on unwanted subscriptions, seeks to simplify and automate a consumer’s entire financial life. At the time of the news, the company also named a new CEO, Haroon Mokhtarzada, who co-founded Truebill with his brothers, Yahya and Idris Mokhtarzada.

Carter said at the time,“Truebill’s founders have a track record proving they know how to successfully scale a consumer product, which they demonstrated with Webs.com. With the app’s existing traction, combined with the team’s expertise and product roadmap, Truebill is in a great position to usher in a new paradigm for helping people run their daily finances.”

——————————

New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

TRENDING RIGHT NOW