FreedomPop Raises Global Stakes

Adds $50M in Funding, Launches ‘Global’ Hotspot
Author:
Updated:
Original:
freedompop global hotspot.jpg

FreedomPop, a startup that targets mobile voice and data services to cost-conscious consumers, said it has raised $50 million more  while introducing a new “global” hotspot.

The new round of funding, which takes its total beyond the $109 million mark, will be used to stoke growth and accelerate its international expansion.

The new global hotspot (pictured) is supported in 25 countries today, and will approach 50 by year-end, as it expands into parts of Asia and Latin America.

FreedomPop is selling the hotspot for $49.99, and offering a global SIM for smartphones for $10. The data plan includes 200 megabytes per month in the supported countries, and customers can buy additional 500 MB buckets of data for $10.

That hotspot will initially help customers connect in the U.S., United Kingdom, France, Germany, Italy, Spain, Switzerland, Austria, Netherlands, Belgium, Luxemburg, Sweden, Finland, Norway, Denmark, Ireland, Portugal, Greece, Poland, Hungary, Slovakia, Croatia, Romania, Bulgaria and Czech Republic. FreedomPop plans to expand coverage to over 40 countries by year end including parts of Asia and Latin America. Countries on the coming soon list include Brazil, Hong Kong, India, Mexico, Russia and Vietnam, among others.

FreedomPop CEO Stephen Stokols said the company is able to offer access and pricing lower than roaming rates thanks to MVNO partnerships in each market.

“We’re doing all these deals with the intent to launch locally,” he said.

He added that the new products aren’t necessarily targeted to world travers, but to consumers in those markets that are trying to avoid more expensive roaming rates.

Stokols noted that some carriers are also looking to forge strategic partnerships with FreedomPop that could enable them to enter new markets.

FreedomPop said it has signes on  more than 1 million subs so far. 

Related