In a heavily oversubscribed surprise share issue late Thursday, Storytel raised SEK 948 million ($96.5 million), just hours after its annual report received a lukewarm stock market reception.
The latest funding round comes just a few months after Storytel juggled its bank credit facility to raise $50 million.
In January TNPS reported on Storytel’s new decade ambitions, which include doubling its markets from 20 to 40 by 2023, and hitting $200 million revenue by end 2020.
Storytel started the year with 1.15 million subscribers across its twenty current markets.
For an overview of Storytel’s 2019 achievements check out the TNPS Story of the Year.