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Truphone Raises $32M

Mobile Internet network operator Truphone raises $32.7M in Series B round

April 17, 2008

1 Min Read

LONDON -- Mobile internet network operator Truphone has raised Pounds Sterling 16.5m ($32.7m) of Series B venture capital funding.

The round was led by private investors, with all of Truphone's existing backers - Burda Digital Ventures, Eden Ventures, Independent News & Media and Wellington Partners - also participating.

Truphone is a global, mobile operator that enables free and low-cost mobile phone calls via the internet, offering dramatic value to customers. Through the recent purchase of SIM4travel, Truphone has also completed its GSM core network, which will enable it to offer low-cost GSM calls worldwide via a travel SIM.

With the additional funding available from the new round, Truphone plans to deliver on its vision of providing a killer combination of mobile cost and mobile convenience: a single, global SIM card that offers not only low call charges both domestically and abroad, but also internet calls at free and ultra-low prices.

"We aim to provide ultimate price and convenience, wherever you are. One world, one SIM," commented James Tagg, Truphone's CEO. "Beyond that, as a 'Voice 2.0' company we can start to develop and introduce new internet-based features and applications that give customers a richer mobile experience."

"The additional funding reflects the investors' belief in and understanding of this vision. The capital will enable us to structure and focus our business to ensure that everything we do contributes towards the achievement of our aims," he said.

Truphone Ltd.

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