Fon Receives €5M growth Capital Loan from Silicon Valley Bank

fonFon, a Madrid, Spain-based global WiFi network, received a €5m growth capital loan from Silicon Valley Bank.

The business will use the capital to pursue its global growth strategy.

Founded in February 2006 by serial entrepreneur Martin Varsavsky, CEO, Fon is a global WiFi leader with more than 14 million hotspots in more than 200 countries. Partners include BT (UK), Deutsche Telekom (Germany), KPN (Netherlands), Proximus (Belgium), MTC (Russia), MWEB (South Africa), Oi (Brazil), SoftBank (Japan) and Telstra (Australia).

The company has offices in Madrid, London, Tokyo and New York.



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