Having finances in order is a good way to make sure a company can have a long lasting future. In the case of FreedomPop, this may have solidified their future for quite some time.
FreedomPop, which is a cellphone service application that markets itself as being low cost, has reached a financial milestone, after raising upwards of $50 million in a fundraiser just this past January. This comes after the company had already raised $30 million in a fundraiser from the previous year.
FreedomPop’s main purpose is to offer phone and data plans at a much less expensive rate than most other phone service carriers such as AT&T and Verizon. With the success of their latest fundraiser, the company now has the option of offering low local rates for data, a huge difference from other carriers that charge higher roaming fees. As of right now, FreedomPop’s service in the United States runs through Sprint’s network and European Carrier Three in the United Kingdom.
Speaking of other countries, FreedomPop has just recently started offering international service that operates in places such as France, Germany, Spain, Belgium and the Netherlands. The company has also announced plans to expands its business service to at least 40 countries by the end of 2016, with Asia and Latin America being the key target for those goals.
Stephen Stokols, the CEO of FreedomPop, reiterated that the company was successfully able to offer low prices in these respective countries and that the speed for internet connections was much faster than those of other carriers. He also mentioned that the app will be used as a hotspot available in different areas and users will be able to purchase up to 500 megabytes of data for $10. He added that the fundraisers should help with improving customer support.
Watch this FreedomPop review