Truely founder and CEO Simon Landsheer
Truely, a travel eSIM provider headquartered in Singapore and a direct competitor to venture-funded Airalo, has completed a US$3.5 million round of financing led by 1982 Ventures and with participation from Beenext and Kopital Ventures.
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, also co-invested.
With this capital, Truely plans to release B2B2C services designed for major travel operators, airlines, airports, OTAs, and service providers, as well as additional products and services to help keep global travellers connected to workplaces and loved ones.
Founded in July 2023, Truely provides access to mobile data across over 200 destinations and regions, with services in multiple languages. It eliminates the need for physical SIM cards and associated clutter, expiring and overlapping plans, and expensive roaming charges.
Also Read: Use Airalo eSIM and stay connected wherever you go in the world
The company offers users flexible plans based on travel needs, selecting data plans based on destination, travel duration, and data packages. Compatible with most modern smartphones, the eSIM can be installed in minutes without replacing the user’s original SIM card. The eSIMs can also be used in tandem with physical SIM cards for dual SIM flexibility.
“We created Truely with user experience at its core—understanding that incumbent options lacked user-friendliness and depended on burner eSIMs. Our flexible and affordable packages offer best-in-class coverage at affordable prices, while also achieving maximum ease-of-use,” said founder and CEO Simon Landsheer. “Leveraging Truely’s Switchless eSIM technology, we will continue to release exciting and innovative products and features to meet diverse traveler needs, keeping travellers connected seamlessly wherever they go at unprecedented ease.”
According to research by Kaleido Intelligence, the eSIM retail market is expected to reach US$3.3 billion in retail sales by 2025 and is projected to grow nearly 50 per cent annually over the next four years. This is driven by the transition from physical travel SIMs, broader eSIM availability in mid-low-tier smartphones, and more affordable data plans.
Singapore-based Airalo is a pioneer in the global e-SIM place. Established in 2019, the company has raised more than US$67 million in venture investments over multiple rounds. In August 2023, Airalo secured US$60 million in a Series B round from a clutch of investors, including Etisalat’s e& capital, Liberty Global, Singtel Innov8, Orange Ventures, Deutsche Telekom’s T.Capital, KPN Ventures, and Telefonica.
Airalo claims it offers eSIMs for over 200 countries and regions through partnerships with both local and regional players. It provides travellers with instant access to digital data packs upon landing. However, it doesn’t provide voice call facilities in many countries and regions.
For businesses operating in the online travel or e-commerce sectors (e.g., online travel agencies, airlines, hotels, travel service aggregators), Airalo offers its API Partner programme. Airalo API Partners gain access to easy-to-use APIs, enabling them to provide connectivity solutions to their customers by integrating eSIM solutions into their platforms.
For businesses, Airalo also offers a fully built and maintained co-brand website. The business refers its users to the co-brand website for a commission, enabling the users to enjoy attractive offers from Airalo.
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