Element Ventures leads a Series B investment in Minna Technologies, a Swedish company revolutionizing subscription management within digital banking.

Target Information

Minna Technologies, founded in Sweden in 2016, specializes in subscription management technology that allows consumers to effectively manage their subscription services within their digital banking platforms. The company's innovative approach empowers users to take control of their finances by providing enhanced visibility into their subscription expenditures, thus addressing one of the most pressing problems faced by consumers today. Minna's integration is designed to facilitate banks in alleviating customer frustrations related to subscription management while also generating cost savings and delivering a return on investment.

Industry Overview

The subscription economy has gained substantial traction in Europe, with research indicating that two-thirds of UK households are now engaged with at least one subscription service. On average, European consumers are currently spending around £301 monthly on subscriptions, which is anticipated to rise to £459 by 2025. This growth reflects the increasing popularity of various subscription models that extend beyond traditional entertainment services, encompassing various consumer goods and services.

Companies such as Apple have successfully adopted subscription-based models to bundle their offerings, thereby enhancing service reach and customer loyalty. Subscription services are now prevalent across multi