Intertwine, a Naples, Italy-based storytelling social network, raised €1.03m in funding.
The financing package included:
– a capital increase from FI.R.A., via the seed fund Starthope, business accelerator TechinTouch, holding company Hubcom, Eclettica, as well as angels Nello Di Biase, Giovanni Marinaccio, and Stefano Squillacciotti,
– public funding from Invitalia’s Smart&Start Italia, and
– debt financing from Banco di Napoli S.p.A (Intesa Sanpaolo).
The company intends to use the funds to increase its product development, marketing and sales efforts as well as hire new people and expand the 15 person community.
Led by Gianluca Manca, founder and CEO, Intertwine operates a storytelling social network based on a shared creativity approach which enables writers, readers and talent to create, share, and publish multimedia (text, audio, video, images) works.
The company targets schools and universities which advance co-learning and digital projects for students and companies which aim to create their value & storytelling strategy.
Intertwine, an Innovative Startup based at Digital Magics Napoli, the Naples-based branch of Digital Magics, business incubator listed on AIM Italia (DM), is going to open new offices in Abruzzo.