Minna Technologies

About Minna Technologies

Minna Technologies, a Mastercard company, provides white-label subscription management solutions for retail banks and fintech applications. Founded in 2016 in Gothenburg, Sweden, by Jonas Karles, Joakim Sjöblom, and Marcus Lönnberg, the company was created to address the founders' own frustrating experiences with managing and canceling recurring payments. Joakim Sjöblom, who serves as CEO, was inspired to start the company as a university student when he realized he was paying for streaming services he no longer used and found the cancellation process difficult by design.

The company operates on a B2B2C business model, partnering with financial institutions to embed its technology directly into their existing banking apps. This allows retail banking customers to view, manage, cancel, and even switch subscription services with a single click, providing a centralized hub for all recurring payments. Minna's platform also notifies users of expiring free trials to prevent unwanted charges and helps them find better deals on utilities. The business generates revenue through these partnerships, offering banks a way to reduce customer service calls related to subscription inquiries, decrease churn, and create new revenue streams through services like utility switching.

Prior to its acquisition by Mastercard, Minna Technologies had raised a total of $28 million over three funding rounds, with a notable Series B round of $18.9 million in January 2021 led by 13books Capital and including investors like Visa. Key clients include major European banks such as Lloyds Banking Group, ING, and Swedbank. In October 2024, Mastercard announced its agreement to acquire Minna Technologies, a move intended to enhance Mastercard's services for the growing subscription economy and streamline the relationship between merchants and consumers. Following the acquisition, Minna is set to become part of Mastercard's Ethoca unit, which focuses on fraud reduction.