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Mobile Internet Telephony Company Truphone Raises £75M

By TechTaffy Desk

truphone[Techtaffy Newsdesk]

UK-based mobile internet telephony company Truphone has secured £75m (around $118 million) in its latest round of funding from investors including Roman Abramovich. Mr. Abramovich’s investment vehicle, Minden, has acquired a 23.3% stake for £70m, valuing the company at £300m (around $473 million).

Truphone will use the financing to open businesses in the Netherlands, Hong Kong, Poland, Germany and Spain this year. The investment will also allow Truphone to employ around 500 additional people over the next 18 months.

Truphone’s service currently works in 220 countries and is available as a local service in the UK, USA and Australia. The company first launched its Tru app into beta in 2006.

[Image courtesy: Truphone]

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