Gigs Secures $73M Series B to Power Next-Gen Mobile Network Services
The Rise of the ‘MVNO-in-a-Box’ Platform
Gigs, the innovative platform enabling companies to launch mobile virtual network operator (MVNO) services, has raised $73 million in Series B funding. This significant investment comes as businesses across industries increasingly integrate mobile connectivity into their offerings.
Key Developments:
- Neobank Adoption: Clients like Nubank and Revolut have leveraged Gigs’ technology to launch travel eSIM services
- Full MVNO Transition: Nubank recently expanded to become a complete MVNO with its NuCel service in Brazil
- Market Expansion: Gigs is powering mobile services for diverse businesses beyond financial services
Understanding the MVNO Revolution
MVNOs operate on existing telecom infrastructure but offer independent services. While not new, their popularity has surged due to:
- Digital-first distribution enabled by eSIM technology
- Apple’s eSIM-only iPhone 14 (2022) as a market catalyst
- Cloud-based solutions eliminating traditional barriers to entry
“The telecom sector has historically been resource-intensive,” explains Hermann Frank, Gigs CEO. “We’re productizing every aspect to make mobile services accessible to any business.”
Gigs’ Three-Tiered Global Offering
1. Global Data eSIM
- Available worldwide
- No phone numbers required
- Ideal for travel-focused services
2. Enterprise Phone Plans
- Available in ~50 markets
- Enables internal corporate networks
3. Consumer MVNO Services
- Currently in U.S., Germany, and UK
- Full mobile service capabilities
Gigs’ comprehensive dashboard provides real-time analytics and management tools
Automating the Telecom Experience
Gigs addresses critical pain points in mobile service operations:
- AI-Powered Support: Upcoming “Operator” assistant handles common requests
- End-to-End Automation: From provisioning to billing
- API Integration: Seamless implementation for partners
“Traditional telecom operates on high gross but low net margins due to operational inefficiencies,” Frank notes. “We’re changing that equation.”
Strategic Funding and Industry Impact
The Series B round was led by Ribbit Capital, marking their first major investment outside fintech. Other investors include:
- Gradient Ventures (Google)
- Y Combinator
- Speedinvest
Jordan Angelos of Ribbit Capital explains the rationale: “Mobile connectivity shares characteristics with banking - ubiquitous yet often delivering poor customer experiences. Gigs is transforming this space.”
What’s Next for Gigs?
With fresh funding, Gigs plans to:
- Expand U.S. carrier partnerships beyond T-Mobile and AT&T
- Grow European presence through deals like the new Vodafone UK partnership
- Develop innovative “tech enablement” solutions for global markets
Frank concludes: “We’re building the global connectivity layer that will power the next generation of mobile services.”
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