UAE Corporate Team advises e& capital on $60 million raise for Airalo

On 31 July 2023, Airalo announced that it has raised $60 million in a Series B funding round led by e& capital, the venture investment arm of Etisalat, alongside other leading telcos and institutional investors, including Liberty Global, Rakuten Capital, Singtel Innov8, Telefonica, Orange Ventures and T.Capital (the venture arm of Deutsche Telecom).

Airalo is a market-leading eSIM store which gives users access to digital data packages in over 200 countries/regions. The quality of the investors, the majority being leading telcos, highlights the opportunity and how highly Airalo is regarded in the industry.

Gowling WLG's UAE corporate team (led by Tim Casben and supported by Simon Elliott and Bethany Bloor) were delighted to advise the lead investor, e& capital, on this $60 million raise, whilst working closely with colleagues in Singapore.