Truphone, a London, UK-based global mobile operator, raised £255m in funding.
The company intends to use the funds to to retire all of its debt and accelerate global expansion plans, build strategic partnerships and develop new services.
Led by Ralph Steffens, CEO, Truphone has developed a global network and patented SIM technology that enables mobile connectivity. Its products include the eSIM for all new Apple iPads available in 31 countries by the end of 2017 and IoT solutions for connected cars; and global mobile call recording solutions that enable trading compliance for financial institutions.
The company currently serves more than 3,500 companies.
The investment comes shortly after Truphone agreed a strategic partnership with Apple. Truphone connectivity will be locally available in more than 50 countries on Apple eSIM, which allows iPad users to get online and stay connected whether at home or travelling internationally.
Truphone’s patented SIM-technology enables the creation and distribution of SIM profiles over the air. The network architecture and technology stack includes a secure, regulated mobile recording service, which is being used by the majority of Tier 1 investment banks.
Services are available in 220 countries and territories.
Established in 2006, the business has more than 350 staff in 10 countries.