Archive for the ‘funding’ tag
FREEDOMPOP RAISES $50 MILLION IN FINANCING AND LAUNCHES GLOBAL HOTSPOT WITH FREE DATA ACROSS THE WORLD
Latest financing will fuel growth and accelerate international expansion starting with free data in 25 countries beginning today.
LOS ANGELES, CA – January 20, 2016 – Just six months after closing $30 million in financing and on the heels of its successful U.K. service launch last quarter, FreedomPop today announced it has raised an additional $50 million in financing, bringing its total funding to over $109 million. The new funding will be used to fuel continued growth of its disruptive free mobile service and accelerate its 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.
Available today, the Global hotspot aggregates cellular networks from across the world to give users a single seamless 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. FreedomPop plans to expand coverage to over 40 countries by year end including parts of Asia and Latin America.
The 100 percent 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 Global hotspot is available today for a special launch price of $49.99 and the SIM will be available for $10 at FreedomPop.com/Global.
“FreedomPop has proven that new Internet business models work in the telecom space and has developed the technology to scale it globally. This new financing not only validates our capabilities, but it also ensures that FreedomPop has the capital required to become a top 10 global service provider,” said Steven Sesar, FreedomPop COO and Co-Founder. “The financing also supports our Global network launch, which is an exciting way to give consumers free Internet access across the world and eliminate roaming costs no matter where they are.”
FreedomPop has added more than 1 million subscribers since its initial launch. The company will expand into additional countries, as well as announce strategic partnerships with top global mobile carriers over the next several months.
To sign up for FreedomPop’s Global hotspot, go to FreedomPop.com/Global