Orixcom completes private financing round

Cloud services provider Orixcom raises private equity to fund growth

Tags: IrelandOrixcom (www.orixcom.com)United Arab Emirates
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Orixcom completes private financing round The investment will allow Orixcom to accelerate its growth, says Grenville.
By  Mark Sutton Published  January 12, 2015

Connectivity and cloud services provider Orixcom has announced that it has completed a private financing round to fund further growth.

The company said that is has successfully closed a private equity share subscription in January 2015, which will be used for expansion and customer acquisition. The value of the investment was not disclosed.

Orixcom said that this is the first round of external investment in the company, and that it expects to launch subsequent rounds in due course.

Orixcom Limited is an international licensed carrier of telecommunications and cloud services across the Middle East and Africa.

Andrew Grenville, founder and CEO, commented: "We've been self-funded until now, but to accelerate our growth we decided to seek a round of investment into Orixcom from a group of sophisticated shareholders. This enables us to push harder and faster in our chosen markets of international connectivity and cloud services, bringing more choice and value to customers. We are doing pioneering work here in the Middle East, especially in our innovative cloud business, and it's great to have others sharing in the vision and ambition and contributing to our success."

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