MyRepublic secures $52M funding to expand footprint - Mobile World Live

MyRepublic secures $52M funding to expand footprint

23 NOV 2017

MyRepublic lined up a SGD70 million ($51.6 million) investment from a private equity company to fund its regional expansion, which reports indicated will involve establishing MVNO operations in Singapore, Indonesia, Australia and New Zealand.

The funding comes from Makara Capital’s SGD1 billion innovation fund, which focuses on late-stage start-ups and growth-stage companies.

In a statement announcing the funding, MyRepublic CEO Malcolm Rodrigues said it developed a proprietary cloud platform over the past five years which enabled it to deploy a single operational platform across countries.

“This investment will supercharge the platform’s development, support our aggressive growth path to expand our regional footprint within a record-breaking timeframe, and deliver an even wider range of services,” he said.

Singapore-based MyRepublic is a broadband internet service provider (ISP) with operations in Singapore, Indonesia, Australia and New Zealand.

As part of its expansion, the company said it will launch MVNO operations in the four markets during 2018 starting with Singapore in Q1, Channel NewsAsia reported. Other target markets are Malaysia, the Philippines, Vietnam, Myanmar, Thailand, Cambodia and Sri Lanka.

MyRepublic said in July it was planning an IPO in late 2018 to raise funds to expand in Asia.

In December 2016, the company failed in an attempt to secure Singapore’s fourth mobile licence in a spectrum auction open only to new entrants, losing out to Australia-based fixed line operator TPG Telecom.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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