Truely, an innovative Travel eSIM provider enabling global connectivity for travelers, announced on Thursday the completion of a $3.5 million round of financing led by 1982 Ventures with participation from Beenext, and Kopital Ventures.
The round also saw participation from the founding team members and various strategic angel investors, including JJ Chai (ex-AirbnB), Kum Hong Siew (ex-Airbnb), HY Sia (Founder of Tranglo), Mohammad Gharaybeh, Qin En Looi, Eric Dadoun, and Gilbert Relou, among others, according to a statement.
With this round of financing, Truely plans to release B2B2C services designed for major travel operators, Airlines, Airports, over-the-air’s and service providers, as well as release additional products and services.
Founded in July 2023, Truely is an innovative, next generation Travel eSIM company offering Switchless™ global connectivity for travelers.
Truely ensures that travelers are always able to access mobile data across a wide range of destinations and regions with services in multiple languages.
Utilizing eSIM technology, Truely provides local data plans in 200+ destinations and regions, eliminating the need for physical SIM cards and associated clutter, expiring and overlapping plans, and expensive roaming charges. With easy installation, competitive rates, and 24/7 support, Truely is able to enhance remote connectivity to meet the demands of a new digital era, the company said.
Truely originated as a spin-off from Bikago Mobile, an eSIM service for tourists in Bali.
Leveraging its success in providing seamless connectivity to international visitors on the island, Truely has expanded to become a global player.
While headquartered in Singapore, Truely said it remains connected to its Indonesian roots by operating a 24/7 Customer Service and operation center in Bali, employing a team of 20 Indonesian professionals in Customer Service, Marketing, Finance and HR. which plays a key role in supporting its global operations.
Truely’s growth from a local service in Bali to a global leader highlights its commitment to providing reliable, affordable, and convenient connectivity for travelers worldwide.
According to research by Kaleido Intelligence, the eSIM retail market is expected to reach $3.3 billion in retail sales by 2025, and is projected to grow nearly 50 percent annually over the next four years, driven by the transition from physical travel SIMs, broader eSIM availability in mid-low tier smartphones, and more affordable data plans.
Truely said it addresses this demand with broad coverage and flexible packages, so that business travelers, digital nomads, global backpackers, vacationing families, and travelers of all kinds can access local rates in any country without additional roaming costs or fees.
Truely’s team is led by founder Simon Landsheer (CEO), who brings over 20 years of global telecommunications, fintech, hospitality and CPaas experience.
“We created Truely with user experience at its core—understanding that incumbent options lacked user-friendliness and depend on burner eSIMs. Our flexible and affordable packages offer best-in-class coverage at affordable prices, while also achieving maximum ease-of-use,” said Simon Landsheer, Founder and CEO, Truely.
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