Redalpine backs $3.9m round for Inkitt

Frontline Ventures, Speedinvest and a number of private investors also took part in the round.

Redalpine drew equity from Redalpine Capital III, a vehicle with a CHF 100m hard-cap that is expected to close by the end of the year.

The fresh funds will be used to scale Inkitt's publishing platform and expand internationally. It currently has 43,000 writers and more than one million readers.

Company
Founded in 2013 and headquartered in Berlin, Inkitt is an online publisher of user-submitted fiction. The application allows readers free access to its writers' content for a limited period of time; following this, the authors of the highest rated stories are offered a publishing deal. Using this method, the company has published 24 books. It also provides marketing support to the authors it publishes.

People
Inkitt – Ali Albazaz (founder).

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• Topics
• Expansion
• DACH
• Consumer
• Venture
• Germany