Mobile communications company Truphone has announced a new round of funding totaling to £75 million (or ~$118.7m USD), led by Chelsea FC owner Roman Abramovich.The company reports that Abramovich acquired a 23.3% stake in Truphone for £70 million, valuing it at £300 million (or ~$475m USD).
With these new funds, Truphone has detailed that it plans to expand its services to the Netherlands, Hong Kong, Poland, Germany and Spain this year, in addition to the 220 countries it already operates in.
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The company also plans to “employ around 500 additional colleagues over the next 18 months, with a large number of these roles based in the UK.” The company teased that it will continue to invest in “significant product launches in the coming months.”
If you’re unfamiliar with Truphone’s services, the company is known for its system which allows customers to access voice, data and SMS services at local rates across 220 countries using one phone a SIM card. The sheer expense of this round — priced at nearly 1/4 ownership of the company — makes this an interesting move for Truphone.
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