Zouk and Hermes in €13m Readly series-B

The series-B funding, which Channel 4's Commercial Growth Fund and Aggregate Media Fund also took part in the round, which will be used to fuel expansion in international and existing markets.

Reports indicate that Readly had previously raised SEK 20m from Zouk in 2015.

Company
Readly offers an app for tablets and smartphones that lets customers have unlimited access to national and international magazines for a fixed monthly subscription. It also allows publishers to track and analyse how their content is being read.

Launched in Sweden in 2013, the company also has offices in London and Germany, while its service includes 2,000 titles from 400 publishers. Readly has around 30 staff and doubled the number of its paying subscribers over the course of 2016, according to the company.

People
Zouk Capital – Nathan Medlock (general partner).
Readly – Per Hellberg (CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Venture
• Sweden
• Hermes GPE