Singapore mobile network operator Circles.Life has announced today that it has raised series C investment led by venture capital Sequoia India to finance its overseas expansion and to build on its digital service capabilities.
The company, which leases network from telco M1 by using a mobile virtual network operator (MVNO) model, offers cut-price mobile services and clever marketing to disrupt the telecommunication industry in Singapore.
The details on investment were not disclosed, but plans to launch in more than five countries in the next 18 months was covered in a press release. The company also claimed that it would be the first to launch a fully digital telco product in these markets. Two of the markets that have been confirmed for launch in 2019 are Taiwan in Q2 and Australia in Q3. It’s looking to invest S$50 million (US$36.9 million) on each launch.
The company had previously identified Indonesia as its first overseas market and was expected to launch in the second half of 2018, but that has yet to happen.
Introducing unlimited data and other options
Circles.Life, which started operations in June 2016, has about 5 percent of Singapore’s mobile subscriber market. In its 2+ years of existence, it has grown into a popular service provider in Singapore.
Just this week, the company pulled a marketing stunt by introducing unlimited data for S$20 (US$14.70) a month one day after announcing it was killing its 20GB for S$20 plan at the end of February.
The company has also worked with HL Assurance to introduce the Circles PhoneProtect device insurance plan for S$7 a month. The add-on option covers screen cracks, liquid damages, and door-to-door replacements.