Singapore-based eSIM platform Airalo raises US$220 million, achieves unicorn status

Singapore-based travel eSIM platform Airalo has secured US$220 million (S$281.7 million, conversion rate US$1 = S$1.28) in a funding round, pushing its valuation to over US$1 billion and making it the industry’s first unicorn.

The round was led by a new investor, CVC, a Luxembourg-based firm which contributed US$185 million through its Asia Fund VI. Existing financiers Peak XV and Antler Elevate also participated in the round.

Airalo plans to use the new capital to expand its offerings, improve customer experiences, and enhance its platform for both individual travellers and corporate clients.

It will soon roll out new data packages and in-app features, including dedicated data, text, and voice packages in selected markets.

“This funding is a major milestone, not just for Airalo, but for the future of global connectivity,” said Ahmet Bahadir Ozdemir, the CEO and co-founder of Airalo.

“This raise allows us to drive innovation across every part of the user journey by delivering more flexible plans and a faster, more seamless experience. We’re not just enabling better eSIM solutions for travel—we’re building the infrastructure for the next generation of international mobile connectivity.”

Founded in 2019, Airalo offers eSIM packages in over 200 countries and regions. It currently serves more than 20 million travellers worldwide, and claims to be the world’s first and largest travel eSIM provider.

Featured Image Credit: Airalo