Readly completes $11M in funding from Swedbank Robur and Zouk Capital.
Readly, a Stockholm, Sweden-based provider of a subscription-based service for media access, announced in a press release securing SEK 100M ($11M) in capital investment. The backers include institutional investors Zouk Capital, with SEK 40M, and Swedbank Robur, with SEK 60M, and the money will be used to further accelerate the business growth.
Readly, founded in 2013 and led by CEO Jörgen Gullbrandson, developed a digital service that gives users unlimited access to more than 3,200 national and international magazines in an app. The company has about 50 employees and its service is available worldwide with a focus on Sweden, Germany and the UK.
Priro to this investment round, the company completed funding rounds totalling roughly $20M