Who Owns Mullvad VPN?
Mullvad ownership, Amagicom AB and the founders explained
Mullvad VPN is operated by Mullvad VPN AB, a Swedish company owned by parent company Amagicom AB. Mullvad says Mullvad VPN AB and Amagicom AB are 100% owned by the two founders, Fredrik Strömberg and Daniel Berntsson, who remain actively involved in the company.
In practical terms, Mullvad is still a founder-owned VPN rather than a brand inside one of the larger VPN groups. It is not listed as part of Kape Technologies, Nord Security, Ziff Davis or another major VPN holding group. For our product-level assessment, see our full Mullvad VPN review.
Mullvad VPN AB
The legal company that operates the Mullvad VPN service.
Amagicom AB
The Swedish parent company behind Mullvad VPN AB.
Fredrik Strömberg and Daniel Berntsson
Mullvad says the two founders own Mullvad VPN AB and Amagicom AB together.
Founder-owned
The current public ownership information does not show Mullvad as part of a large VPN roll-up group.
Mullvad VPN Ownership at a Glance
| Question | Answer | Why it matters |
|---|---|---|
| Who operates Mullvad VPN? | Mullvad VPN AB | The operating company is the legal entity behind the VPN service. |
| Who owns Mullvad VPN AB? | Amagicom AB | The parent company sits above the Mullvad VPN operating company. |
| Who owns Amagicom AB? | Fredrik Strömberg and Daniel Berntsson | This is the key ownership layer for users assessing control and incentives. |
| Where is Mullvad incorporated? | Sweden | Jurisdiction affects corporate law, legal process and transparency expectations. |
| Is Mullvad privately owned? | Yes, based on Mullvad's public ownership statements | Founder ownership is different from being owned by a public company or private equity group. |
| Did the 2026 controversy change the ownership? | No public ownership change shown | The controversy affected trust and perception, but it did not itself prove a change in company control. |
How Is Mullvad Structured?
The simple structure is: Fredrik Strömberg and Daniel Berntsson own Amagicom AB, and Amagicom AB owns Mullvad VPN AB. Mullvad VPN AB is the company that operates the public VPN service.
Mullvad has described Amagicom AB as the parent company of Mullvad VPN AB. It has also explained that Amagicom was split from the VPN operating company so different businesses could be separated while keeping Mullvad VPN under the same founder-owned structure.
That distinction matters because VPN ownership can be confusing. Some VPN brands are owned by large public companies, some sit inside cybersecurity groups, and some are run by smaller independent operators. Mullvad's public position is that it remains controlled by the two original founders through Amagicom AB.
Who Are the Mullvad Founders?
Fredrik Strömberg
Fredrik Strömberg is one of Mullvad's founders and one of the named owners of Amagicom AB. Mullvad's public pages describe both founders as actively involved in the company.
Daniel Berntsson
Daniel Berntsson is Mullvad's other founder and co-owner. He became the focus of wider attention in 2026 after reporting about a personal political donation, covered in our separate Mullvad controversy guide.
Mullvad's 2021 ownership article stated that Daniel Berntsson and Fredrik Strömberg would continue to own 50% each of the shares, with no new outside capital or share issue planned under that owner directive.
What About the 2026 Mullvad Owner Controversy?
In June 2026, Mullvad faced criticism after reports that co-founder Daniel Berntsson had made a large personal political donation. Mullvad and co-CEO Fredrik Strömberg publicly distanced the company from the donation, and the issue became a trust and values debate among VPN users.
That controversy is important background when assessing ownership, but it is not the same thing as a technical privacy breach. It also does not, by itself, show that Mullvad's ownership structure changed. For the full timeline and user impact, read our dedicated guide: Mullvad owner 2026 controversy explained.
Important distinction: Ownership controversies can affect whether users feel comfortable supporting a VPN company. They do not automatically prove that the VPN logs traffic, weakens encryption or changes its privacy policy.
Does Mullvad's Ownership Make It Trustworthy?
Ownership is one part of VPN trust, but it is not the whole picture. A founder-owned structure can be a positive signal if the company has a consistent privacy mission, avoids confusing ownership chains and publishes useful transparency information. It can also create concentration risk because control sits with a small number of people.
For Mullvad, the strongest ownership-related trust signals are that the company names its owners publicly, identifies its legal entities and explains the parent-company structure. The main ownership-related risk is that users have to be comfortable with the judgement, incentives and values of the two founders.
To judge Mullvad properly, ownership should be weighed alongside technical controls, app security, payment options, account design, audits, court or law-enforcement history, server infrastructure and day-to-day performance. We cover those product factors separately in our Mullvad VPN review.
Sources Checked for This Guide
This guide is based on Mullvad's public ownership information and current reporting around the 2026 controversy. VPN ownership pages can change, so we check the underlying sources when updating this article.
- Mullvad About page — current public description of Mullvad VPN AB, Amagicom AB and the founders.
- Mullvad FAQ — Mullvad's short answer to who owns the service.
- Mullvad ownership and future article — founder ownership and owner directive background.
- Mullvad corporate structure update — explanation of the Mullvad VPN AB and Amagicom AB split.
- FindCheapVPNs Mullvad owner controversy guide — our separate explanation of the 2026 donation controversy.
Who Owns Mullvad VPN FAQs
Who owns Mullvad VPN?
Mullvad VPN is operated by Mullvad VPN AB and sits under Amagicom AB. Mullvad states that Fredrik Strömberg and Daniel Berntsson own the companies together.
What is Amagicom AB?
Amagicom AB is the Swedish parent company above Mullvad VPN AB. It is the ownership layer users are looking at when they ask who controls Mullvad.
Is Mullvad VPN independent?
Based on Mullvad's public ownership information, yes. Mullvad is founder-owned rather than part of a large VPN group.
Is Mullvad VPN publicly traded?
No. Mullvad is not a stock-market-listed VPN provider, and its public ownership information points to private founder ownership.
Is Mullvad owned by Kape, Nord Security or Ziff Davis?
No. Mullvad is not publicly listed as part of those larger VPN groups; its parent company is Amagicom AB.
Where should I check Mullvad's privacy performance?
Ownership explains who controls the company, but privacy performance depends on the product. Read our Mullvad VPN review for the service-level assessment.