Ridely secured SEK 5M in capital investment.

Ridely, an Uppsala, Sweden-based startup building a social network for horse riders, announced the completion of a SEk 5M ($500k) capital investment round.

The money will be used to setting up business in the UK.

Ridely, founded as Ztable in 2016 by CEO Ingrid Sundqvist, Erika Hjertén and Totta Ogander, developed a social network and a training calendar especially designed for horse riders. The company claims to have about 15k MAUs in Sweden and recently launched a premium version of its service, as it aims to monetize.

Prior to this round, Ridely raised almost $1M from Almi Invest and a range of angel investors from Sweden.