Nextory to raise SEK 165 million from CNI and Erik Selin.
Nextory, a Stockholm, Sweden-based media company operating a digital book service in the Nordic region, announced securing funding of SEK 165M ($19M).
Proceeds will be used to expand the business.
Nextory, founded in 2012 as E2GO and led by CEO Shadi Bitar, developed a business around a digital service providing access to digital books. The company, which is not profitable, claims to almost have doubled its customer base in 2020 and saw a 30% revenue increase from SEK 174M ($20M) in 2019.
Nextory previously raised more than $20 million.