Singapore-based journey eSIM platform Airalo has secured US$220 million (S$281.7 million, conversion charge US$1 = S$1.28) in a funding spherical, pushing its valuation to over US$1 billion and making it the business’s first unicorn.
The spherical was led by a brand new investor, CVC, a Luxembourg-based agency which contributed US$185 million by its Asia Fund VI. Current financiers Peak XV and Antler Elevate additionally participated within the spherical.
Airalo plans to make use of the brand new capital to increase its choices, enhance buyer experiences, and improve its platform for each particular person travellers and company shoppers.
It should quickly roll out new information packages and in-app options, together with devoted information, textual content, and voice packages in chosen markets.
“This funding is a significant milestone, not only for Airalo, however for the way forward for international connectivity,” mentioned Ahmet Bahadir Ozdemir, the CEO and co-founder of Airalo.
“This elevate permits us to drive innovation throughout each a part of the person journey by delivering extra versatile plans and a sooner, extra seamless expertise. We’re not simply enabling higher eSIM options for journey—we’re constructing the infrastructure for the subsequent era of worldwide cellular connectivity.”
Based in 2019, Airalo affords eSIM packages in over 200 nations and areas. It presently serves greater than 20 million travellers worldwide, and claims to be the world’s first and largest journey eSIM supplier.
- Learn different articles we’ve written on Singaporean startups right here.
Featured Picture Credit score: Airalo
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