Evelyn Goh | Mar 18, 2019 | 0
Circles.Life to invest $50 million for each market launch with more than 5 countries in the pipeline
Circles.Life has closed a Series C round of financing led by Sequoia India to expand to international markets, and to continue to redefine the mobile telecom sector by expanding the company’s range of personalized digital services.
The company plans to launch in more than five countries in the next 18 months, including Taiwan in Q2 2019 and Australia in Q3 2019 and will invest more than $50 million in each launch. Circles.Life has already signed deals with key networks which have the widest coverage in both countries and will be the first to introduce a 100% digital telco experience in these markets.
Circles.Life has garnered over 5% of Singapore’s mobile subscriber market share in a short period of time, making it the country’s fastest-growing telco. The company’s NPS score, which tracks customer satisfaction, customer experience and loyalty, sets a new bar for the sector with a rating of 50+, which far outstrips its competitors.
Given the results in Singapore, with Sequoia India’s support, Circles.Life plans to replicate its success in new markets. To drive this, the company has brought key senior industry hires on board. Ajinkya Mukhopadhyay, who was previously Joint Head of Asian Telecoms Investment Banking at UBS AG and Group Head of M&A at Telstra, joins Circles.Life as Head of Business Development & International Expansion. Waseem Yusaf joins us as Head of International Launches from Nokia, where he had been involved in launching and expanding multiple networks around the world.
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In parallel to expanding internationally, it will continue to redefine the mobile telecom sector with additional investment in the company’s range of personalized digital services. This is powered by the opening of a data science and engineering centre in Bangalore, and acquisition of several companies, including Fratics and Klassify, to leverage their machine learning capabilities. The company has committed another S$25 million to its engineering centre.
$20 UNLIMITED Data & PhoneProtect Device Insurance
Circles.Life is also launching $20 UNLIMITED Data as an upgrade of its most popular product, 20 GB for S$20 plan. It is offered as a Plus Option on top of their base plan for unlimited data use and available for both existing and new users. Users who are on the existing 20GB for S$20 plus plan will transit to the S$20 Unlimited plan, while new customers enjoy a complimentary S$20 Unlimited plus option for their first month of signup.
Additionally, the company has also launched the new Circles PhoneProtect device insurance plan for only $7 a month. Partnering with HL Assurance (HLA), this add-on option covers screen cracks, liquid damages, and door-to-door replacements. The product is created with customers in mind; busy customers who want their device repaired instead of replaced.
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