- Gigs, a Telecom-as-a-Service provider, raises $73M in Series B round to democratize access to mobile services.
- The funding round was led by Ribbit Capital with support from existing investors including Google’s Gradient Ventures and Y Combinator.
What happened: Gigs raises $73M to accelerate Telecom-as-a-Service expansion
San Francisco-based Telecom-as-a-Service (TaaS) provider Gigs has successfully secured $73 million in a Series B funding round to fuel its expansion and enhance its product offerings. The round, led by Ribbit Capital, also saw participation from existing investors including Speedinvest, Google’s Gradient Ventures, and Y Combinator. Founded in 2020, Gigs aims to revolutionize the mobile service industry by enabling tech companies to launch their own mobile services on premium networks worldwide through a single integration. Gigs’ innovative platform provides a comprehensive suite of services, such as AI-powered customer support, API connectivity, subscription and billing management, tax calculation, wholesale payment processing, and multi-currency payment systems. With the new funding, Gigs plans to expand its geographical footprint, adding more regions to its portfolio, and continue developing its service offerings to meet the needs of tech companies around the globe.
Earlier this year, Gigs made a significant move by partnering with Wealthsimple, the Canadian robo-advisor and stock trading platform, to launch a global travel eSIM service. This is a prime example of Gigs’ ability to deliver cutting-edge solutions in the telecom sector, leveraging its flexible, scalable platform. The company has also been bolstering its leadership team, appointing Rishi Sachdeva, former Stripe executive, as head of fintech, and Steven van Bommel, formerly with Adyen, as head of finance.
Also read: FinTech Platform ZayZoon raised $34.5 million in Series B funding
Also read: Karat Financial Secures $70 Million Series B Funding to Fuel Growth in Creator Economy
Why it’s important
Gigs’ successful Series B round marks a significant milestone for the company, underscoring the growing demand for flexible, scalable telecom solutions that enable tech companies to offer their own mobile services. By securing $73 million in funding, Gigs is poised to further innovate its Telecom-as-a-Service offerings, which simplify mobile service integrations and enhance customer experience through AI and automation. This investment will allow the company to expand globally and add new products to its suite, positioning it as a key player in the future of mobile service delivery.
The importance of the funding extends beyond Gigs itself—it reflects a growing trend in the mobile and telecom industries, where companies are seeking more agile, integrated solutions. With its AI-powered tools and seamless integration process, Gigs is well-positioned to disrupt the traditional telecom model, which has often been complex and fragmented for tech companies looking to offer mobile services. This is especially significant as more companies move toward offering mobile-first solutions for their customers, particularly in the global travel and fintech sectors. The addition of key executives like Rishi Sachdeva from Stripe and Steven van Bommel from Adyen is a clear signal that Gigs is preparing for rapid growth and expanding its leadership capacity in critical areas such as fintech and finance. As the telecom sector continues to evolve, Gigs is well-positioned to lead in providing customizable, cloud-based solutions for a range of industries.
