OSS/BSS software company Telness Tech secured a €5 million loan from existing investors to fuel continued growth, as it declared an expansion into the US as successful.

Telness Tech split from Swedish MVNO Telness in 2021 and is now in the process of expanding its footprint. In a statement, the software provider noted it registered its US operation in December 2023 and has since secured multi-year contracts with two clients from its new market.

The company revealed the fresh capital injection was chiefly from existing shareholders Industrifoden and JCE Group, with the funding set to help its international push.

Its expansion and claimed “unprecedented pace of growth in the last few months” prompted a restructuring in its executive team, the company added.

This will involve Telness Tech founder Jonas Cedenwing (pictured, centre) and CEO of Telness Martina Klingvall (pictured, right) switching operational roles at the software business.

Cedenwing is set to become COO and will lead the company’s international expansion. Klingvall will focus on managing the leadership team as Telness Tech CEO.

Klingvall, who spoke at one of the MWC23 Las Vegas keynotes, said at the time “there is an opportunity [in US] no one yet has tapped into”.

Telness Tech provides digital and fully-automated solutions for 18 mobile operators to date.