Airalo, a company specialising in the provision of eSIMs used by users and businesses primarily to manage mobile connectivity in countries around the world, has announced that it has completed a $220 million investment led by new investor CVC. The new growth capital pushes Airalo’s valuation to over $1 billion, making it the first unicorn in the industry. Supported by growing global market demand, Airalo is experiencing rapid expansion and now serves over 20 million travellers in more than 200 destinations. With its new app and unlimited data plans launched this summer, Airalo aims to set new standards in the world of global connectivity. Airalo’s mobile app allows travellers abroad to enjoy a high-quality roaming experience at significantly lower prices than they would normally pay.
Thanks to the millions of users who choose Airalo to stay connected abroad, the company is growing faster than ever, and the newly signed financing will give further impetus to this expansion. The investment amounts to $185 million from lead investor CVC (through its CVC Asia Fund VI), with participation from Peak XV and Antler Elevate, existing investors in the company. The new capital will be used to further improve the customer experience by enhancing customer service, launching new products and offering better value for money. Airalo will also make its platform available to businesses to ensure connectivity for both employees and customers.
“This funding is a milestone not only for Airalo, but for the future of global connectivity,” said Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo, in a statement. “The capital increase allows us to bring innovation to every aspect of the customer experience, offering more flexible plans and faster, uninterrupted connectivity. We are not only improving our travel eSIMs, but we are also laying the foundation for the next generation of international mobile connectivity.”
“We are excited to partner with Airalo, the undisputed leader in travel eSIMs and a pioneer in redefining how travellers connect around the world,” said Siddharth Patel, managing partner at CVC. . “The digital travel eSIM market, already worth a billion dollars, is becoming the primary method by which consumers can enjoy a high-quality experience abroad at a much lower price than they pay today for roaming. Airalo, with a highly scalable digital model that has grown primarily organically, is ideally positioned to offer travellers around the world added value and the best possible experience. We are delighted to support Bahadir and the Airalo team.
Airalo continues to expand its connectivity services, with the aim of offering a complete package of options for every type of traveller. Starting in July, the company will expand its already extensive range of eSIM data packages, ideal for both business and leisure travel: from 1 GB plans, perfect for short trips, to 30-day unlimited data packages, designed for those with higher connectivity needs. In addition, Airalo is launching data, messaging and calling packages in selected destinations, allowing users to connect like a local. Furthermore, Airalo will soon release a new web, iOS and Android app to further improve the user experience.
The company is also upgrading its platform to meet growing demand from businesses and partners. Airalo for Business offers companies a simplified platform to manage their teams’ global connectivity, supporting them in eSIM allocation and budget control processes, as well as reducing roaming costs by up to 90%. For partners, Airalo’s white label solution makes it easier and faster to launch a fully branded eSIM store, providing new revenue opportunities with minimal effort. Airalo also offers API integrations, reseller tools and voucher programmes to enable any partner to offer connectivity to their travelling users. These services, along with a new eSIM feature launching soon, reflect Airalo’s commitment to building the connectivity infrastructure that supports modern, mobile-first businesses around the world.
Airalo, founded in 2019, has over 20 million users, is headquartered in the United States and has a remote team operating in 55 countries, particularly in development centres in Toronto, Istanbul and Singapore. It is supported by a global network of venture capital, private equity and strategic investors in the telecommunications sector, including CVC, Peak XV, e& Capital, Antler, KPN Ventures, Wayra Ventures
(Telefonica), Bell Ventures, Orange Ventures, Liberty Global Ventures, Rakuten Capital, Singtel Innov8,
Telekom Innovation Pool, LG Technology Ventures, GO Ventures, and Plug and Play.
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