On November 30, 2023, Jonas Karles, one of the co-founders of Minna Technologies, stood on stage during TechMeetUp in Gothenburg and shared his entrepreneurial journey. Then he talked about how to take a company from startup to scaleup and inspired many in the tech community. Now, barely a year later, he is the main character in yet another tech success. On October 1, 2024, the company was bought by Mastercard, which marks yet another milestone for Gothenburg’s growing tech scene. Just three weeks earlier, the cyber security company Recorded Future was also acquired for SEK 27.5 billion by the same payment giant. This type of business confirms Gothenburg’s role as a leading city in technological innovation.
Minna Technologies was founded by Jonas Karles, Joakim Sjöblom and Marcus Lönnberg with the vision of developing a solution to manage subscription services. The company’s platform helps users easily cancel, change or manage their subscriptions and has become an important tool for banks and financial players worldwide. Today, their services are used by 120 million users – a number that is expected to grow significantly with the new ownership.
In a post on social media, Jonas Karles reflects on the journey from a local startup to a player in the global market and expresses pride in what the team has achieved. He looks forward to the continued development under Mastercard’s leadership and how Minna Technologies will scale up internationally.
The price tag for the acquisition has not been made public, however according to Breakit it is estimated at the equivalent of SEK 770 million. It is yet another example of how Gothenburg’s tech companies attract major international players and gain significant valuations on the global market.
Charlotta Johansson, responsible for TechMeetUp at Business Region Gothenburg, interviewed Jonas Karles during his participation in November last year and reflects on the tech company’s success:
“It’s fantastic to see how the tech scene in Gothenburg continues to grow and gain global attention. Jonas and Minna Technologies show that the innovative power we have here can result in international success. Last year’s TechMeetUp was just the beginning, and we look forward to future conversations with other exciting companies, not least Recorded Future in January.”
Gothenburg’s tech scene continues to attract large investments and create platforms for future innovations. Andreas Göthberg, head of entrepreneurship and entrepreneurship at Business Region Gothenburg, comments on the deal:
“With the recent acquisition of Minna Technologies and previous deals such as Recorded Future, Gothenburg is strengthening its position as an important hub on the global tech map. It now remains to be seen what more success stories will emerge in the city, but one thing is certain – Gothenburg’s tech future looks bright.
Read more: Gothenburg-based Recorded Future is sold for 27.5 billion
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