Los Angeles-based MVNO startup Freedom Pop which uses Sprints network to offer its mobile services has recently raised $30 million in funding from investors in Europe and the U.S in an exercise led by
FreedomPop which was launched in 2013, brought a 'freemium' approach that offers free mobile voice services along with data rollover and Wi-Fi first calls, and monetizes its service by providing extra capacity and other services. FreedomPop in its blog post said that the company declined multiple M&A offers, instead opting to secure financing and ramp its business organically.
In May, FreedomPop announced the launch of its free mobile phone service in the U.K, which will be available later this summer, and expects to expand further into Europe later this year. The company also launched Jetsetter, a global SIM that offers free service that will be initially available in the UK, Spain and France.
Stephen Stokols, FreedomPop founder and CEO
Partech Ventures was the perfect fit for us given its network and reach in Europe, where we are focusing our initial international expansion. Partech, coupled with our existing U.S. investors, gives us support from Sand Hill Road to Europe.
