companies

Freepik

Spanish AI-first creative platform for stock content, image and video generation, upscaling and design; rebranding as Magnific.

Freepik was founded in 2010 in Malaga, Spain, by brothers Alejandro Sanchez and Pablo Blanes together with Joaquin Cuenca Abela, as a freemium marketplace for stock vectors, icons, photos and templates. It grew into one of the world's largest graphic-resource platforms with hundreds of millions of monthly visitors, operating profitably for a decade before the private-equity firm EQT acquired a majority stake in 2020, with the founding team, including CEO Joaquin Cuenca Abela, staying in charge. Since 2022 the company has pivoted aggressively into generative AI, acquiring the AI-upscaling startup Magnific and building in-house tools such as its Mystic image model and the openly released F Lite text-to-image model developed with Fal.ai. Its platform now integrates 20+ AI tools spanning image and video generation, audio, and 3D. In April 2026 the company announced it is rebranding to Magnific, unifying its stock library and AI-generation suite under one AI-first brand, reporting roughly $230 million in annual recurring revenue with video accounting for about half of revenue. Cuenca describes the company as bootstrapped, having never raised traditional outside VC.

Founded

2010

Headquarters

Malaga, Spain

Sector

applications