On the very same day, it also revealed that it has closed a Series C round of financing, led by Sequoia India, to power the business’ expansion into new geographies and services.
Circles.Life is planning to launch in more than five countries in the next 18 months, investing over $50 million in each market. This includes a launch in Taiwan in the second quarter of 2019, and Australia in the third quarter.
It has already signed deals with key networks which have the widest coverage in both countries, and will the be the first to introduce a fully digital telco experience in these markets.
“Circles.Life was built on a mission to give power back to the customers. Because of this mission and our innovative digital platform, we’ve raised the bar in Singapore’s telco space,” said Rameez Ansar, co-founder and CEO of Circles.Life.
“The significant investment from a blue-chip venture capital firm is a testament to the impact we bring to the industry. We plan to offer more personalised digital services and revolutionise the telco industry globally using our tech stack, Circles-X.”
Plans To Expand Its Services Too
Circles.Life has garnered over 5% of Singapore’s mobile subscriber market share in a short period of time, making it the country’s fastest-growing telco.
Given its results in Singapore, coupled with Sequoia India’s support, Circles.Life plans to replicate their success in new markets.
In line with its business expansion, Circles.Life is also pumping in additional investment to boost the company’s range of personalised digital services.
This is powered by the opening of a data science and engineering centre in Bangalore, and the acquisition of several companies, including Fratics and Klassify, to leverage their machine learning capabilities.
The company has committed another $25 million to its engineering centre.
Founded in 2016, Circles.Life has truly reinvented the mobile telecom landscape in Singapore with its unique business model.
Unlike a telco or MVNO, Circles.Life has eliminated all proprietary hardware and appliances and moved the entire architecture to a software-based cloud environment.
The company’s unique technology stack and business model enables it to launch new services in weeks, not years.
Circles-X’s smart analytics and API-based platform supports easy third-party integration with a range of partners, from e-commerce, entertainment and transit companies, and also allows Circles.Life to develop their own offerings.
Some of the company’s recent digital lifestyle produces include Discover, an AI-driven mobile events app, and Ride for Rewards, a tie-up with Singapore’s EZ Link contactless transit smart card that allows commuters earn points that can be redeemed from a range of partners, including Grab and Lazada, as well as extra data from Circles.Life.
Additionally, the company has also launched the new Circles PhoneProtect device insurance plan for only $7 a month. Partnering with HL Assurance (HLA), this add-on option covers screen cracks, liquid damages, and door-to-door replacements.
Featured Image Credit: Circles.Life