Oxio, a New York-based telecom-as-a-service platform provider, raised $40M in Series B funding.
The round, which follows a $12m Series A in November 2020, and brings total proceeds raised to $65m to date, was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden with participation from Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective, Allan Green of Candel & Partners, LightShed Partners and Sea Group.
The company intends to use the funds to accelerate its continued growth in Mexico, launch its business in the United States, and into new markets in LATAM, most notably Brazil, and grow the team in the U.S. and Mexico, starting with senior roles in revenue and in finance alongside hiring in product and engineering.
Led by CEO Nicolas Girard, Oxio provides a telecom-as-a-service (TAAS) platform for brands and enterprises to offer telecom services for end-users and to create bespoke enterprise solutions, easily accessing and packaging 4G and 5G carrier infrastructure capabilities through modern UI and API methods.
This white-label technology makes it possible for any brand to launch a customized mobile service, effectively acting as a mobile operator, without the cost or complexity.
In Mexico, clients include some of the largest brands in the country, such as Grupo Bimbo, (the world’s largest bread maker); Grupo Coppel, (Mexico’s premier white goods 1,200-store retail chain); and Rappi, (Latin America’s (LATAM) preeminent food delivery and services app).
The company also has offices in Mexico City, and Montreal, Canada.
FinSMEs
18/03/2022