Readly, a Stockholm, Sweden-based digital magazine newsstand, secured €13m in Series B funding.
Backers included Zouk Capital, Hermes GPE, Channel 4’s Commercial Growth Fund and Aggregate Media Fund.
The company will use the funds to further its international expansion and support growth in its existing markets.
Led by Per Hellberg, CEO, Readly offers an app for tablets and smartphones that lets customers have unlimited access to thousands of national and international magazines for a fixed monthly subscription.
Currently, the service includes 2000 titles from over 400 publishers and has a user base in more than 50 countries.