The Local, a Stockholm, Sweden-based online publisher, has received a SEK 10m equity financing.
The round was led by Almi Invest with participation from existing investors. The Local is owned by the Sixth AP Fund, IQube, and other private investors.
The company intends to use the capital to expand into six new markets in Europe (including France) within 2012.
Founded in 2004 by CEO Paul Rapacioli and James Savage, The Local currently publishes news online in English in Sweden, Germany (www.thelocal.de and www.toytowngermany.de) and Switzerland (www.thelocal.ch).
FinSMEs
15/05/2011