INSUBCONTINENT EXCLUSIVE:
Italian startup Freeda Media has raised a $16 million Series B round
Existing investor Alven is leading the round, with Endeavor Catalyst, UniCredit and others also participating
UniCredit is also granting the company a debt facility of $3 million.The company has managed to attract millions of followers on Instagram,
Facebook and other social media platforms
It runs short videos, quick interviews and articles
In other words, Freeda wants to create a social version of Elle, Teen Vogue, Vanity Fair, Cosmopolitan or Man Repeller.Freeda is currently
live in Italy, Spain and South America
The company currently has 5 million women engaging with their content every day
It reaches 80% of Italian and Spanish women aged 18-34 every month.On Instagram in particular, the startup says that it is the first female
The startup is opening an office in London and plans to launch in the U.K
and other English-speaking markets
There are currently 160 people working for Freeda.The company is still mostly focused on branded content to monetize its audience
But Freeda wants to expand beyond this revenue stream with a new direct-to-consumer brand
You can expect to be able to buy Freeda-branded products starting in 2020.
