FreedomPop, a Los Angeles, CA-based mobile services provider, raised $50m in funding.
The backers remained undisclosed.
The company, which has raised over $109m in total funding, intends to use the capital to continue to develop its free mobile services and accelerate international expansion in markets in Europe, Asia and South America, including the launch of its new Global hotspot and SIM covering initially covering the European region.
Founded in 2011 by Stephen Stokols, Chief Executive Officer, and Steven Sesar, COO, FreedomPop provides free wireless broadband internet. Its newly launched Global hotspot aggregates cellular networks from across the world to give users a single data connection for free.
It will initially give U.S. and U.K. users free global data in 25 countries including the United States, United Kingdom, France, Germany, Italy, Spain, Switzerland, Austria, Netherlands, Belgium, Luxemburg, Sweden, Finland, Norway, Denmark, Ireland, Portugal, Greece, Poland, Hungary, Slovakia, Croatia, Romania, Bulgaria and Czech Republic. The company plans to expand coverage to over 40 countries by year end including parts of Asia and Latin America.
The free global plans automatically include 200 MBs per month of data in any of the supported countries, and can be used by any connected device or smartphone. Users will have the option to purchase additional global data at just $10 per 500 MBs. The hotspot is available for a special launch price of $49.99 and the SIM will be available for $10 at FreedomPop.com/Global.
FinSMEs
20/01/2016