FreedomPop Makes Progress With $30 Million Funding Deal
FreedomPop and existing investors, DCM Capital and Mangrove, just made headlines with a Series B $30 Million funding capital deal with Partech Ventures. With FreedomPop already expanded into the UK market, this spells good news for people stateside who only need the basic phone and limited features.
The article mentions the possibilities of additional investors, one of which is a strategy investment firm and another possibility that included potential hardware offers. At this point, the future looks good for FreedomPop to continue its Freemium Package that includes 200 talk minutes, 500 texts, and 500MB of data.
How does FreedomPop do this? Mobile Virtual Network Operator (MVNO) is a means of delivering wireless Internet connections. FreedomPop has a deal that allows them to buy at greatly reduced bulk wholesale prices. Unlike other carriers, customers of FreedomPop only run up minutes while they are using the service.
What is the catch? There isn’t one. The basic account is free, and most people only need limited access to the phone, text, and data. For customers how need more, they pay as the add at prices ranging from $3 to $10 per add-on and enjoy only those features they use. One of these add-ons is Free International voice calls both placing them and receiving them. Just pay to have an International number assigned to you phone and enjoy service anywhere in the world.
Additional features include anonymous browsing to prevent government snooping, rollover features, phone insurance options and more added along the way.
Most consumers are unaware that there are no licensing fees for wireless channels, and the cost comes from paying a company for an access portal. With this $30 million increase in venture capital, there is no reason FreedomPop will fail to deliver on its promises of free Internet access.