Truely Raises $2M to Expand Global eSIM Services

Truely, a travel-focused eSIM provider based in Singapore, has raised $2 million in fresh funding to accelerate its global expansion. The round included new investors DG Daiwa Ventures, Disrupt.com, and Goodwater Capital, alongside participation from existing backer Beenext. This follows a $3.5 million round led by 1982 Ventures in October 2024, bringing Truely’s total capital raised to $5.5 million.

Founded in 2023, Truely has developed a “Switchless” eSIM technology that allows users to install the eSIM once and use it for future trips without needing reinstallation. This approach eliminates common frustrations with traditional eSIMs, such as needing to install a new profile for each journey or dealing with inconsistent data packages.

The company said the new funding would be used to drive B2C and B2B2C growth across global markets. Truely is already live in over 200 destinations and is rapidly expanding partnerships with airlines, online travel agencies, and fintech superapps to boost user acquisition and product distribution.

DG Daiwa Ventures said its investment provides Truely with access to corporate partners and payment infrastructure across Japan and East Asia. Goodwater Capital will support the startup through insights on consumer behavior and intent, helping to scale user engagement across regions.

Truely recently launched version 2.0 of its app, which has contributed to significant momentum in its B2C segment. Co-founder and CEO Simon Landsheer said the company is building what he calls his “dream product” and plans to continue executing on its vision with strong investor backing.

According to Kaleido Intelligence, global traveler spending on eSIM services is expected to exceed $3 billion by 2025. Truely is positioning itself as a leading player in the sector, offering a more seamless and reliable connectivity experience for frequent travelers.

Tags: phocuswire, SyndicEx250629B

Truely Raises $2M to Expand Global eSIM Services

Related Posts