Founded in Málaga with no capital and big ambitions, the company that started as a stock image search engine has quietly become one of Europe’s most significant AI platforms.
Freepik, the Málaga-based creative platform founded in 2010 as a search engine for graphic resources, has relaunched under the name Magnific — a rebrand that brings together its image generation, video, upscaling, audio, collaboration and asset library capabilities under a single unified identity.
The company launches with $200 million in annual recurring revenue, more than one million paid subscribers and adoption across more than 250 enterprise clients, including the creative teams at BBC, DeliveryHero, Guess, Huel, R/GA and Job&Talent, which are already running production-level generative AI workflows on the platform.
The Magnific name is not new to the company. Magnific was acquired by Freepik in May 2024 and was subsequently named by Andreessen Horowitz as the top generative AI web company in Europe by users. The rebrand brings the full combined platform into focus under a single identity for the first time.
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“The problem was never the product,” said JoaquÃn Cuenca, chief executive of Magnific. “People saw fragments: Freepik as stock, Magnific as an upscaler. This is the first time the full system is visible as one platform.”
The relaunch also marks a deliberate positioning around what Cuenca calls the “no-collar economy” — his term for a structural shift in who participates in creative production as AI tools lower the cost and complexity of high-quality content creation. “The industrial revolution created the blue-collar jobs and the digital revolution created the white-collar jobs,” he said. “Creatives are about to become more powerful than anyone expected. That’s the no-collar economy. And it’s already underway.”
The platform’s data supports the argument. Seventy-two percent of new creators joining Magnific identify as beginners — a signal that professional-grade creative tools are reaching well beyond traditional creative roles. The company’s Business plan, launched in January 2026 for smaller teams, surpassed 2,000 subscriptions in six weeks and continues to add around 150 new teams per week.
Enterprise adoption is also moving beyond experimentation. BBC, DeliveryHero, Huel and R/GA are among the organizations now using Magnific for production workflows — generating assets, prototyping visuals and scaling content across campaigns and markets rather than running isolated pilots.
“In the future, we will make films like we write books,” Cuenca said. “One person with a vision and the tools to execute it.”
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Cuenca, who co-founded Freepik in Málaga in 2010 alongside two friends with no outside capital, described the relaunch as a natural evolution rather than a reinvention. “We started without any capital, three friends dreaming big,” he said. “We didn’t know what we’d build. We just knew we weren’t comfortable staying still. Now we’ll find new stories to tell.”
The unified Magnific platform covers image and video generation, including 4K with audio, AI upscaling, a real-time collaborative workspace, 3D and virtual scene tools and a library of more than 250 million creative assets.