Free mobile phone service provider FreedomPop has gained a boost to its global expansion plans with the addition of $ 50 million in new funding from an unnamed investor. Today, the Los Angeles-based company also announced the launch of a new global hotspot service offering free data in 25 countries.
First being made available to FreedomPop customers in the U.S. and U.K., the free data offering covers not only those countries but also a large swath of Europe. By later this year, the company also plans to expand free data coverage to parts of Asia and Latin America.
Founded in 2011 and launched publicly the following year, FreedomPop is a Sprint-based mobile virtual network operator (MVNO) carrier that offers free services to low-demand users of voice, text and data services. With the investment announced today, the company has raised a total of $ 109 million, including a $ 30 million round led by Partech Ventures in June and startup funding from Intel Capital in November.
More New Markets Coming
“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 FreedomPop co-founder and COO Steven Sesar in a statement.
FreedomPop first began offering its services in the U.S., and expanded into the U.K. in September. The company said it has added more than 1 million new subscribers since its launch, and plans to move into several additional countries over the next several months.
During that time, FreedomPop also said it expects to announce new strategic partnerships with “top” global mobile carriers, the company noted. FreedomPop has said its goal is to operate in more than 20 markets by 2017.
$ 10 Sim, $ 50 Hotspot
The self-described “new wave telecom company” offers a free, basic service with 200 minutes of calling, 500 texts and 200 MB of data. It earns revenue through the sale of add-on minutes and data, as well as by offering phones, hotspots and modems, and support for connected-car Internet service.
Customers who want to purchase additional global data traffic, for example, can get 500 MB for $ 10. The new global hotspot is launching at a price of $ 49.99, and a SIM for global service is priced at $ 10.
FreedomPop’s new global data service will cover countries including Portugal, Spain, France, Germany, Poland, Hungary and the Czech Republic. The company said it plans to expand that coverage to more than 40 countries by the end of this year.
Richard Caldwell:
Posted: 2016-01-20 @ 3:14pm PT
Don’t waste your time. This company has the WORST customer service in the business! The phones are used and you CANNOT get anyone on the phone to help with issues!
