Gigs AG: Revolutionizing Mobile Connectivity with $73 Million in New Funding
December 14, 2024, 12:54 am
Location: United Kingdom, England, London
Employees: 1001-5000
Founded date: 2015
Total raised: $1.79B
In a world where connectivity is as vital as air, Gigs AG is stepping up to transform the telecommunications landscape. The Switzerland-based startup recently secured $73 million in Series B funding, a significant boost that signals a bold move to democratize mobile services. This funding round, led by Ribbit Capital, attracted notable investors like Google’s Gradient Ventures and Y Combinator.
Founded in 2020, Gigs is not just another tech company; it’s a catalyst for change. The company has developed an operating system that simplifies the integration of mobile connectivity into various products. Imagine a toolbox that allows any business to build its own mobile network without the heavy lifting typically associated with telecommunications. That’s what Gigs offers.
The telecommunications industry has long been a fortress, guarded by high costs and complex regulations. New entrants often find themselves lost in a maze of compliance hurdles and technical challenges. Gigs aims to dismantle these barriers. With its platform, companies can launch mobile services globally in a matter of weeks, not years. This is akin to giving a painter a ready canvas instead of forcing them to create one from scratch.
Gigs’ platform provides everything a company needs to establish a mobile service. It includes an application programming interface (API) for connectivity, a hosted checkout system, multi-currency payment options, and AI-driven customer service tools. This all-in-one solution cuts through the clutter, allowing businesses to focus on what they do best—serving their customers.
The timing of Gigs’ funding is crucial. As the demand for mobile connectivity surges, especially in sectors like financial services, companies are racing to integrate these capabilities into their offerings. Neobanks like Nubank and Revolut have already begun to explore mobile services, launching travel eSIM options for their customers. Gigs has played a pivotal role in this transformation, assisting Nubank in its journey to become a mobile virtual network operator (MVNO).
Gigs offers three distinct products: a global data-only eSIM, an enterprise-grade version for businesses, and a full mobile service for companies wanting to become MVNOs. This versatility positions Gigs as a key player in the telecommunications revolution. It’s like having a Swiss Army knife for mobile connectivity—versatile, efficient, and ready for any challenge.
The vision of Gigs’ co-founder and CEO, Hermann Frank, is clear: he wants to make acquiring a phone plan as effortless as hailing an Uber. The current state of phone plans, he argues, is outdated and uninspiring. Gigs is here to change that narrative. By enabling tech companies to distribute phone plans directly through their apps, Gigs is transforming connectivity from a mere commodity into a customizable feature that enhances user experience.
With the new funding, Gigs plans to expand its geographic reach and enhance its product offerings. The goal is to drive innovation in the telecom sector, helping companies create tailored mobile experiences that boost customer engagement and unlock new revenue streams. The potential is enormous. The global mobile subscription market is worth over $1 trillion, and Gigs is poised to capture a significant share of that pie.
Ribbit Capital’s Jordan Angelos emphasizes the opportunity at hand. Mobile connectivity is ubiquitous, yet it often falls short of customer expectations. Gigs is seizing this moment to revolutionize the industry. The startup’s approach is not just about technology; it’s about rethinking how connectivity is delivered and experienced.
As Gigs moves forward, it will face challenges. The telecommunications landscape is fraught with competition and regulatory hurdles. However, the company’s innovative spirit and robust funding position it well for success. The ability to streamline mobile service deployment could be a game-changer for many businesses, particularly those looking to enhance their digital offerings.
In conclusion, Gigs AG is not just another tech startup; it’s a harbinger of change in the telecommunications industry. With $73 million in fresh funding, the company is set to redefine how businesses integrate mobile connectivity into their products. The vision is ambitious, but the potential rewards are immense. As Gigs continues to break down barriers, it paves the way for a future where mobile services are accessible, customizable, and integral to the digital experience. The world is watching, and the telecom revolution is just beginning.
Founded in 2020, Gigs is not just another tech company; it’s a catalyst for change. The company has developed an operating system that simplifies the integration of mobile connectivity into various products. Imagine a toolbox that allows any business to build its own mobile network without the heavy lifting typically associated with telecommunications. That’s what Gigs offers.
The telecommunications industry has long been a fortress, guarded by high costs and complex regulations. New entrants often find themselves lost in a maze of compliance hurdles and technical challenges. Gigs aims to dismantle these barriers. With its platform, companies can launch mobile services globally in a matter of weeks, not years. This is akin to giving a painter a ready canvas instead of forcing them to create one from scratch.
Gigs’ platform provides everything a company needs to establish a mobile service. It includes an application programming interface (API) for connectivity, a hosted checkout system, multi-currency payment options, and AI-driven customer service tools. This all-in-one solution cuts through the clutter, allowing businesses to focus on what they do best—serving their customers.
The timing of Gigs’ funding is crucial. As the demand for mobile connectivity surges, especially in sectors like financial services, companies are racing to integrate these capabilities into their offerings. Neobanks like Nubank and Revolut have already begun to explore mobile services, launching travel eSIM options for their customers. Gigs has played a pivotal role in this transformation, assisting Nubank in its journey to become a mobile virtual network operator (MVNO).
Gigs offers three distinct products: a global data-only eSIM, an enterprise-grade version for businesses, and a full mobile service for companies wanting to become MVNOs. This versatility positions Gigs as a key player in the telecommunications revolution. It’s like having a Swiss Army knife for mobile connectivity—versatile, efficient, and ready for any challenge.
The vision of Gigs’ co-founder and CEO, Hermann Frank, is clear: he wants to make acquiring a phone plan as effortless as hailing an Uber. The current state of phone plans, he argues, is outdated and uninspiring. Gigs is here to change that narrative. By enabling tech companies to distribute phone plans directly through their apps, Gigs is transforming connectivity from a mere commodity into a customizable feature that enhances user experience.
With the new funding, Gigs plans to expand its geographic reach and enhance its product offerings. The goal is to drive innovation in the telecom sector, helping companies create tailored mobile experiences that boost customer engagement and unlock new revenue streams. The potential is enormous. The global mobile subscription market is worth over $1 trillion, and Gigs is poised to capture a significant share of that pie.
Ribbit Capital’s Jordan Angelos emphasizes the opportunity at hand. Mobile connectivity is ubiquitous, yet it often falls short of customer expectations. Gigs is seizing this moment to revolutionize the industry. The startup’s approach is not just about technology; it’s about rethinking how connectivity is delivered and experienced.
As Gigs moves forward, it will face challenges. The telecommunications landscape is fraught with competition and regulatory hurdles. However, the company’s innovative spirit and robust funding position it well for success. The ability to streamline mobile service deployment could be a game-changer for many businesses, particularly those looking to enhance their digital offerings.
In conclusion, Gigs AG is not just another tech startup; it’s a harbinger of change in the telecommunications industry. With $73 million in fresh funding, the company is set to redefine how businesses integrate mobile connectivity into their products. The vision is ambitious, but the potential rewards are immense. As Gigs continues to break down barriers, it paves the way for a future where mobile services are accessible, customizable, and integral to the digital experience. The world is watching, and the telecom revolution is just beginning.