Readly, the European category leader in digital magazine subscriptions, today announced that it has completed a SEK 157 million investment round, led by the Third Swedish National Pension Fund (AP3), Zouk Capital, and Swedbank Robur, with participation from other existing and new investors.
Since the Company was founded in 2012, Readly has pioneered the market for digital magazine subscriptions by providing its users with unlimited access to local and international high-quality content from well-renowned publishers. With a presence in 8 key European countries and the US, Readly already generates more than two-thirds of its revenues outside Sweden, and the funds raised will predominantly be used to fuel continued expansion in current European markets.
Readly is a digital subscription service that lets customers have unlimited, “all-you-can-read” access to thousands of national and international magazines in one app – both streamed and downloaded. Readly was founded in Sweden in 2012 and the app is available globally but is currently actively marketed in Sweden, the United Kingdom, Germany, Austria, Switzerland, the Netherlands, the United States, Ireland, and Italy. The service is ultra-fast, easy-to-use and convenient – each subscriber can access magazines on up to 5 devices. In addition to all the consumer benefits, Readly offers a powerful, risk-free route to market for publishers who can also track and analyse how their content is being consumed. www.readly.com