Truphone raises Almost $300 Million and Retires Debt

By Ken Briodagh October 03, 2017

Truphone, the first global mobile operator, today announces it has raised £255m in funding through a successful rights issue. The funds will be used to retire all of its debt and fuel the global expansion of the business.

This new investment will help Truphone deliver on its ambitious plan to disrupt the trillion-dollar mobile industry and power the world's connected devices, which are expected to total 50 billion by 2020.

This represents a pivotal moment for Truphone. It has now repaid the debt incurred during the development of its unique, fully globalised mobile connectivity platform.

“Truphone continues to be the driving force reshaping the global mobile industry,” said Ralph Steffens, CEO, Truphone. “Our disruptive Connectivity EcoSystem combines mobile connectivity, next generation SIM technology and a market-leading management platform. As a result of this unique proposition, we are able to offer highly differentiated Enterprise products and are the enabler of choice for disruptive IoT and eSIM solutions.”

The investment comes shortly after Truphone agreed to 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. The Apple agreement represents a landmark moment for Truphone as it builds on its status as the first global mobile operator.

“I see this latest investment as a significant vote of confidence from our investors in our growth strategy, and our ambition to continue scaling the business globally,” said Steffens. “It is an important step in achieving our long-term goal to power billions of connected devices around the world.”

Truphone's patented SIM-technology is designed to enable the creation and distribution of SIM profiles over the air. The network architecture and technology stack allows the company to supply differentiated services to its 3,500 existing Enterprise customers. These include a secure, regulated mobile recording service, which already is being used by Tier 1 investment banks. Truphone services are available in 220 countries and territories.

Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

Related Articles

Smart, Connected Technologies in Dairy Industry the Key to Feeding Future Populations

By: Special Guest    8/14/2018

A dairy cow lumbering through a field seems to be the antithesis of high technology but sensors, AI, analytics, connectivity and the other elements of…

Read More

Servato Introduces Smart Power GE Rectifier and Battery Management Solution

By: Ken Briodagh    8/14/2018

Smart Power System Rectifier Offers Remote Battery Management in GE's Latest Rectifiers

Read More

Hack the Grid: It May Be Easier Than We Thought. Now What?

By: Special Guest    8/13/2018

Cybereason reported earlier this month that the Industrial Control System environments that handle energy may be easier to hack than even the most sea…

Read More

Constitutional Convention: Re-Imagining the Internet for Liberty, Justice and Privacy

By: Cynthia S. Artin    8/13/2018

On the day and on the site where the US Constitution was signed in 1787, a group of professors will be hosting the first Constitutional Summit Meeting…

Read More

Winners of the 2018 IoT Evolution Product of the Year Awards Announced

By: TMCnet News    8/13/2018

TMC, in conjunction with its partner Crossfire Media, today announced the winners of the 2018 IoT Product of the Year Award, presented by IoT Evolutio…

Read More