For many in the publishing industry the podcast is the poor man’s audiobook, as the short story is the poor man’s novel or the blog post the poor man’s non-fiction work.

But just as blog posts and short stories can be works of art, lucrative money-spinners’ and make or break reputations, so podcasts are slowly gaining recognition as a valued and valuable format in their own right.

Back in September 2019 the podcasting platform Podimo was launched in Denmark, on the back of Mofibo- founder Morten Strunge’s seed capital raising, with an eye on becoming the “Netflix of podcasts”.

While many looked on in bemusement – who needs a podcast platform when there are so any audiobook platforms out there? – Podimo quickly made an impact. Not quite in the Netflix league, but still an impressive kick-off:

Podimo expanded into Germany, and now has designs on a wider European presence.

To that end, reports Sweden’s Boktugg, Podimo has now raised new capital to the tune of 15 million euros ($16.8 million) from 83North, and Heartcore.

The fresh cash, says Boktugg,

will go to expansion around Europe, but also to develop the platform, investing in content and building a podcast studio. And to build the team (more than 30 vacancies are listed on the company’s website).