Swedbank, Zouk in €10m funding round for Readly

New investor Swedbank Robur joined previous backer Zouk in the round. The company will use the funds to further its international expansion and support growth in its existing markets.

Previous funding
Readly raised SEK 20m from Zouk in 2015, according to Unquote Data.

Zouk, Hermes GPE and existing shareholders put a further €13m behind the digital magazine app in May 2017. The series-B funding, which also saw investment from Channel 4's Commercial Growth Fund and Aggregate Media Fund, was used to fuel expansion in international and existing markets.

Company
Launched in Stockholm in 2013, 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.

The company has further offices in London and Germany. Its service includes titles from 3,200 national and international digital magazines. Readly added Switzerland to its local markets of Sweden, UK, Germany and Austria in 2018.

People
Swedbank Robur – Erik Sprinchorn (fund manager).
Zouk Capital – Nathan Medlock (partner).
Readly – Jörgen Gullbrandson (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Nordics
• Technology
• Media
• Sweden
• Venture
• Zouk Capital
• Hermes GPE