Freeda, an Italian startup aimed at women which publishes short videos, quick interviews and articles to inspire women has confirmed securing $13 million led by existing investor Alven. The round saw participation from Endeavor Catalyst and UniCredit along with other backers. Notably, UniCredit is also offering a $3 million as part of a debt facility.
Prior to this round, Alven had led the $10 million Series A round capital in May last year. The current infusion takes the total amount raised by the firm to $30.3 million. The other backers of the firm include the names like Henri Moissinac, Khaled Heliooui, Paloma Castro Marinez, Rancilio Cube, U-Start, and others.
Launched in 2015, Freeda is on a mission to spread real women stories among the masses to inspire people positively. The company was founded by Andrea Scotti Calderini and Gianluigi Casole. The company makes a social version of Elle, Teen Vogue, Vanity Fair, Cosmopolitan or Man Repeller.
The firm claims to have more than 5 million women engaging with their content every day, with most of the views coming from Italy and Spain. The company has garnered millions of followers on Instagram, Facebook and other social media platforms where it runs short videos, quick interviews, and articles.
The company has been planning to launch Freeda-branded products in order to engage directly with direct-to-consumer brand tactics. The current funding will be used for its global expansion. The firm is launching an office in London and with that it means is that the firm is targeting the U.K. market right now.