FreedomPop, a company based in the state of California, has raised around $50 million in order to be able to offer affordable phone services in Europe and the United States for travelers by selling global hotspots at cheap prices.
Since its foundation in 2012, FreedomPop has been a major headache to companies like Verizon Wireless and AT&T. Such companies charge a lot of money for their services, especially for their international ones. Other carriers, such as Boost Mobile, offer unlimited roaming services for a monthly fee, but their internet speed is very slow. That does not apply to FreedomPop.
According to Stephen Stolks, chief executive officer of FreedomPop, the business is offering services in 25 countries. The young company is also selling a hotspot, which can be used in different areas, for a flat rate of $49. In return, clients will get around 200 megabytes every single month and be charged $10 for an extra 500 megabytes. SIM cards will cost $10 as well.
Stokols thinks that such funds will help FreedomPop improve its costumer service and be able to obtain more devices, which is crucial for the business in order to be able to expand worldwide.
FreedomPop has raised at least $100 million in funds since 2015. The company for example last year raised $30 million after considering whether to sell itself. Thankfully that did not happened, especially after Intel contributed with $6 million. FreedomPop currently offers its services in the United States and the United Kingdom. The international services will become available in European countries, like Spain, Portugal, France, Germany, and Poland. FreedomPop plans to expand to Latin America and Asia by the end of 2016.