Airalo raises $60m in Series B fundraising round led by e& Capital

eSIM marketplace Airalo has raised $60m in a Series B fundraising round led by e& capital, the investment arm of UAE telecoms giant e& Group, bringing the company’s total funding to $67.3m.

Airalo said in a statement that the latest fundraising also received equity participation from Antler Elevate, Liberty Global, Orange, T.Capital, Rakuten Capital, Singtel Innov8, Telefónica Ventures, Sequoia Capital India and Peak XV Partners, KPN Ventures and I2BF Global Ventures.

“We are pleased to lead the Series B financing round for Airalo, a company that has come a long way over the past 18 months with a focus on providing exceptional customer experience.”

“We have complete confidence in our ability to expand its user community, strengthen its diverse team, and introduce its latest product Airalo Partners, a groundbreaking connectivity solution for global businesses and organisations,” said Kushal Shah, managing director at e& Capital.

The proceeds from the latest fundraising round will be used to accelerate Airalo’s growth plans, including expanding its vibrant community of millions of users, amplifying its global team, and introducing Airalo Partners.

“Over the past years, Airalo has alleviated the pain points and improved the experience of millions of travellers by providing very affordable and accessible connectivity all around the world,” said Abraham Burak and Bahadir Ozdemir, Airalo co-founders.

“This new consortium of investors will further enable us on our quest to build the gateway to instant connectivity worldwide.”

The eSIM marketplace is leveraging cutting-edge technology and a user-centric approach to empower travellers with seamless access to mobile networks while transforming their journeys into unforgettable experiences.

Airalo democratises global connectivity

Founded in 2019 in Singapore and headquartered in the US state of Delaware, Airalo has remained steadfast in its mission to democratise global connectivity, making it both accessible and affordable for travellers worldwide.

The marketplace, renowned as the world’s largest eSIM platform, empowers users with convenient access to eSIM (digital SIM) packages, allowing them to seamlessly connect to mobile networks in hundreds of destinations across the globe.

With coverage spanning over 200 countries and regions, the platform is experiencing an exceptional growth rate of 20 per cent month on month, with nearly one million downloads monthly for the past three months.

The company’s remote-first approach has fostered a diverse and talented team of over 250 professionals hailing from 44 countries and six continents. This dedicated team includes a global partnerships squad, which nurtures strong collaborations with businesses and organizations worldwide.

The Airalo website and app are available in 22 languages, with an expansion plan to offer support in 53 languages shortly. The company’s remarkable growth trajectory and unwavering commitment to transforming the travel experience have positioned it as a trailblazer and travel essential.

With the infusion of new capital and strategic partnerships, Airalo is poised to accelerate its expansion, ensuring that travellers around the world can stay seamlessly connected, no matter their destination.

Read: Abu Dhabi’s e& enterprise concludes majority stake acquisition in Beehive