MVNO firm unveils two new backers

Friendi Mobile secures multi-million dollar investment

Tags: Friendi GroupOman
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MVNO firm unveils two new backers Friendi CEO Mikkel Vinter says the MVNO is preparing for “multiple MVNO operations” (ITP Images)
By  George Bevir Published  September 27, 2009

Dubai-based mobile virtual network operator (MVNO) Friendi Group today announced a multi-million dollar equity investment by Oman-based Dolphin International and venture capital firm ePlanet Ventures.

Friendi launched the Middle East’s first MVNO in Oman in April this year, and it is now working towards launching in additional countries in the Middle East and in North Africa.

”We have raised this additional double-digit USD millions equity to further improve our financial readiness for launching multiple MVNO operations in quick succession across the region, now we successfully have validated the MVNO model in the region with the launch of our operation in Oman”, said Friendi CEO Mikkel Vinter.

Earlier this month, Vinter told CommsMEA that Friendi was “pushing hard” to put its Jordan virtual operators licence to use, with talks taking place with recent 3G licence winner Orange Jordan.

Dolphin International is a private Omani company that holds a portfolio of investments in banking, infrastructure, education, healthcare, bio-technology, advertising, real estate and construction.

ePlanet Ventures has funded over 90 innovative high-growth companies worldwide, including investments in Chinese search engine Baidu and VoIP firm Skype.

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