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Ex-Mastercard exec invests in subscription terminator Subaio

Ex-Mastercard exec invests in subscription terminator Subaio

Former Mastercard Europe president Javier Perez has invested €4 million in Danish subscription terminator startup Subaio.

The investment is the first for Global PayTech Ventures, the venture firm Perez set up after more than two decade at Mastercard.

Growing out of a Danish hackathon in 2016, Subaio lets users cancel paid subscriptions like fitness memberships and phone plans with a click of a button.

The firm has already scored deals with eight banks, including ABN Amro and Nordea, and plans to use the funding to move into new markets, double its workforce and add new features.

Says Perez: "Subaio represents all the characteristics that we want to invest in. There is a massive market demand within the payments ecosystem and the team has deep technical expertise and a great product that solves a problem for banks and consumers alike."

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