S’pore ESIM Biz Airalo Raises US$220M, Achieves Unicorn Standing

Singapore-based journey eSIM platform Airalo has secured US$220 million (S$281.7 million, conversion cost US$1 = S$1.28) in a funding spherical, pushing its valuation to over US$1 billion and making it the enterprise’s first unicorn.

The spherical was led by a model new investor, CVC, a Luxembourg-based company which contributed US$185 million by its Asia Fund VI. Present financiers Peak XV and Antler Elevate moreover participated throughout the spherical.

Airalo plans to utilize the model new capital to extend its selections, improve purchaser experiences, and enhance its platform for every explicit particular person travellers and firm consumers.

It ought to rapidly roll out new info packages and in-app choices, along with devoted info, textual content material, and voice packages in chosen markets.

“This funding is a major milestone, not just for Airalo, nonetheless for the best way ahead for worldwide connectivity,” talked about Ahmet Bahadir Ozdemir, the CEO and co-founder of Airalo.

“This elevate permits us to drive innovation all through every part of the particular person journey by delivering further versatile plans and a sooner, further seamless experience. We’re not merely enabling increased eSIM choices for journey—we’re setting up the infrastructure for the next period of worldwide mobile connectivity.”

Based mostly in 2019, Airalo affords eSIM packages in over 200 nations and areas. It presently serves better than 20 million travellers worldwide, and claims to be the world’s first and largest journey eSIM provider.

• Be taught totally different articles we’ve written on Singaporean startups proper right here.

Featured Image Credit score rating: Airalo