Danish e-book service Mobifo has raised an undisclosed amount of capital from SEED capital. Rather than straight e-commerce for e-books, Mobifo offers a subscription model where book titles are availabile to users for a monthly fee. Making the comparison closer to Spotify, for example, the books will be available over the internet, or through their apps for Android, iPhone, or iPad. The price level looks to be around 99 DKK (€13) a month.
E-books are apparently a safe investment in Denmark. They claim that in the US, the Ebook market share has reached 30%, while in Denmark the number is closer to 2%.
“Mofibo operates in a highly interesting and untapped market. There are no established players in the Danish e-book sector and we are confident that Mofibo will position itself as the leading e-book provider,” says Investment Manager at SEED Capital, Jakob Ekkelund.
That doesn’t mean there’s no other players in in Denmark. We’ve also covered Riidr, a more traditional e-books store who last October received funding from Schibsted, one of the largest Nordic publishers. Riidr also has smartphone and tablet apps, as well as a “send to Kindle” feature to put their books on Amazon’s e-reader.
Mobifo looks really nicely designed, and it will be interesting to see how consumers respond to the subscription model, compared to individual purchases.