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Amagicom AB runs Mullvad VPN, a flat-fee service that encrypts internet traffic and hides users' IP addresses.
Mullvad VPN is a privacy tool you install on your computer or phone. It creates an encrypted tunnel between your device and the internet, so your internet provider, the Wi-Fi network at a café, and websites you visit can no longer easily see what you are doing or where you are. Your real IP address—the number that identifies your connection—gets swapped for one of Mullvad's servers. People pay for this because they want their browsing kept private from advertisers, data brokers, snoops on public networks, or their own government.
The business model is unusually simple and deliberately boring in a good way. One flat fee—historically around €5 a month—buys the same service for everyone, with no confusing tiers, no discount tricks, and no sneaky upsells. Customers can pay with a credit card, but Mullvad also accepts cash sent by mail, bank transfers, and even cryptocurrency, precisely so that signing up does not require handing over an identity. You get a random account number instead of an email login. The company says it keeps no logs of what customers do online, which is the core promise the whole product rests on. Mullvad is a small player next to giants like NordVPN or ExpressVPN, but it has built a loyal following among privacy nerds, journalists, and activists by being loud about its principles. It has funded and published its own independent audits, and it has pushed back publicly against laws it sees as threats to privacy—including a memorable episode where it argued that a Swedish data retention law could not legally apply to its service. In 2023 it went further and announced that it had phased out its use of rented servers in favor of fully owned infrastructure, a costly move meant to remove any middleman who could be forced to hand over data.
The business has stayed private and independent, owned by Amagicom AB without outside investors or a stock listing, which frees it from pressure to chase growth by harvesting user data. That independence is part of the pitch: there is no advertising division to feed, no parent company to answer to. The trade-off is scale. Being small and principled means it competes on trust rather than marketing budget, and its customer base, while devoted, is a fraction of what the mass-market VPN brands serve.
Saved answer · last researched 15 Nov 2026