Confirmed: FreedomPop Receives $50M Investment from L1

freedompopAs we anticipated in January 2016, FreedomPop, a Los Angeles, California-based wireless internet and mobile phone service provider, received a $50m investment.

LetterOne, is an international investment business, headquartered in Luxembourg, made the investment.

In conjunction with the investment, Mustafa Kiral, Senior Partner at L1 Technology, will join FreedomPop’s Board of Directors.

The company intends to use the funds to accelerate international expansion.

Founded in 2012 by CEO Stephen Stokols and COO Steven Sesar, FreedomPop provides wireless data, voice, and text services on Clearwire and Sprint’s network. The company already extended its “Freemium” business model from the US to the UK and Spain earlier this year. and now plans to open an additional 8 markets by the end of next year with the continuation of this fast rollout across Asia, Europe and Latin America thereafter.





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