Swedish e-book platform raises €9.3m to deliver richer reading experiences

Swedish online platform with digital literary content catalog Nextory has raised €9.3 million (MSEK 100) from Industrifonden, Acacia and LK Finans. This new funding will support the startup’s growth in the publishing industry and pave the way for its global expansion. Nextory, founded in Stockholm in 2015, is a B2C SaaS company that aims to make the world’s books accessible to more people and increase reading by creating richer reading experiences.

Book service Nextory raises SEK 100 million in new funding

Nextory, one of the fastest growing book services in Europe, is now raising new funds to fund its rapid growth and continued international expansion. A total of SEK 100 million is now added to the company, where existing investors such as Industrifonden, Acacia and LK Finans participated in the round.

The journey to make the world a place with more readers continues for the Nextory book service. The company now has operations in ten European markets, where successful launches in Spain and France were the latest expansions. During the first quarter of the year, Nextory reported an increase in the number of paid users by 69%, compared to the same quarter in 2021. Now, the company has also achieved profitability in the Nordic segment of operations.

“Despite the times we are going through, we have seen great interest from new and existing investors in our latest cycle. It is fantastic to see how much owners support and trust us,” says Shadi Bitar, CEO and Founder of Nextory.

Nextory, Johan Nyberg Simberg“We are seeing continued strong growth in our various markets and we have a strong focus on profitability going forward. At the same time, it takes money to grow and that is why we have chosen to raise new funds. These will primarily be used to fund our business plan, so that we can continue to grow in existing markets and also expand to new countries,” says Johan Simberg, CFO of Nextory.

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