Posted In:

Oxio


OXIO raises $12m Series A round led by Atlantico and monashees

Published:

Nov 17, 2020


Author:

Posted In:

Oxio

Published:

Nov 17, 2020


Author:


Share:

Congrats to FTC II portfolio company Oxio on their successful Series A funding round led by two of the top Latin American VCs, Atlantico Capital and monashees.

The round includes participation from prior investors, Multicoin Capital and FinTech Collective.

FinTech Collective first met the team in the summer of 2018 and led the startup’s Seed financing when Oxio was just an idea and a Powerpoint deck. Co-founder and CEO Nicolas Girard had previously built and exited his former telecom business, Aquto, and co-founder and CBO Jason Evans had previously been an executive at Fastly. We were excited to build the first capital market exchange for mobile connectivity, and help get 4b+ individuals reliably connected to the digital world.

As accentuated by the COVID pandemic, staying connected is now more important than ever. And in emerging markets, such as Mexico, mobile phones are the gateway to the delivery of financial services.

“We’re helping close the digital divide created by the historical array of expensive, inflexible mobile plans by enabling dynamic creation of new business models and mobile offerings tailored to people’s needs and economics -- effectively bringing access to the digitally disenfranchised."

Nicolas Girard, co-founder and CEO of OXIO.

FTC Summary


4b people or 50% of the world’s population do not have access to mobile internet. Connectivity and data affordability is still a major challenge, particularly for those in emerging markets. In Mexico, for example, where mobile users consume just over 2GB a month (the average U.S. user consumes 2.5x that), that mobile data costs about $4.77 for 1GB. This places Mexico 158th in the world in terms of affordability.

OXIO’s goal is to build the capital markets for the $2.5t telecom and mobile data market. OXIO has built the first carrier-as-a-service platform. Through a simple API, brands and enterprises can launch their own customized, branded mobile service: a branded MVNO. Much in the same way that Twilio enabled in-app SMS, OXIO enables brands to launch MVNOs. This is achieved by turning mobile data into a tradeable digital asset using tokens on blockchains. Tokenized data packages will be particularly useful in emerging markets like Mexico where mobile internet is relatively expensive

OXIO’s solution is natively multi-network, which seamlessly overlays on top of many heterogeneous networks (5G, WiFi, etc.) to ensure that customers have the best coverage at all times by dynamically switching networks, seamlessly to the users. This opens the design space for how brands can engage with their customers in completely new ways.

Media Highlights


OXIO Calls On $12M Series A To Unbundle Mobile Telecom Infrastructure, Crunchbase

OXIO wants to use blockchain to make “Telecom-as-a-Service” as common as SaaS, Coindesk

Crypto-friendly Telecom Startup Raises $12 Million in Series A, Decrypt

Share:

Previous Article:
Sigma Raises Venture Round Led by Fitch Group
Next Article:
DeFi: A conversation with Sean Lippel on Decentralized Finance
The views expressed here are those of the individual FinTech Collective LLC (together with its affiliates “FTC”) personnel quoted and are not the views of FTC or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by FTC. While taken from sources believed to be reliable, FTC has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; FTC has not reviewed such advertisements and does not endorse any advertising content contained therein.

Any designations found herein have been made by a third party, and although FTC has no reason to believe that such designations, or the criteria for being considered for such designations, are inaccurate or misleading, FTC does not guarantee its accuracy, and such designations may be incomplete or condensed. No compensation was paid in exchange for any designations, endorsements, or testimonials found herein. The hyperlinks referred to herein are provided for your reference only.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. This content does not constitute an offering or form part of any offering or any solicitation of any offer to subscribe to or purchase any investment by FTC, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with any contract therefore. Any such offer will be made only by means of definitive investment offering documents. The information included herein is subject to change without notice to any recipient. Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by FTC, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by FTC (excluding investments for which the issuer has not provided permission for FTC to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://www.fintech.io/portfolio and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://www.fintech.io/disclosures for additional important information.