Minna Technologies announced securing a €15.5 million series B funding round led by Element Ventures.

Minna Technologies, a Gothenburg, Sweden-based developer of subscription management software tools, announced that it completed a €15.5 million ($18.9M) capital funding round.

The money was raised from investors led by Element Ventures and included contributions from MiddleGame Ventures, Nineyards Equity and Visa. Proceeds will be used to expand business outside Sweden, as well as for scaling the technology.

Minna Technologies, founded as Minatjänster in 2016 by CEO Joakim Sjöblom, Jonas Karles and Marcus Lönnberg, developed a B2B service that enables customers to manage subscription services via their bank’s app. The business evolved from operating a consumer app for subscription management to directly working with European retail banks including Swedbank, ING and Lloyds Banking Group, extending its features in their app journey which enables customers to easily and simply manage their subscriptions in just a few clicks, whenever and wherever they want.

Minna previously raised about $8 million in capital funding.