Effortel mobile enabler wins backing from private equity and banks
09 August 2016 | Alan Burkitt-Gray
A Belgian mobile virtual network enabler, Effortel, is planning an international expansion strategy following an undisclosed level of investment from a private equity backer, Saffelberg Investments.
The company says that Saffelberg’s backing will lead to further support from two banks, BNP Paribas Fortis of Belgium and ING of the Netherlands.
Effortel has launched 14 mobile virtual network operators around the world, and also has a consulting services arm.
Arkadi Panitch, CEO of Effortel, said: “A strategic shareholder like Saffelberg Investments is immensely important to our further growth, providing investment, credibility and support in business development, which is critical as Effortel enters new markets such as Latin and North America.”
Effortel says its current enablement clients include Globe in the Philippines, Voo in Belgium, Carrefour in Belgium and Taiwan, Equitel in Kenya, Vodafone and Total Erg in Italy, Vodafone Malta in Malta, and Bakcell in Azerbaijan.
The company says it manages almost 3 million subscribers on its enablement platform, which provides a full managed service covering most of mobile operations’ value chain, including billing, rating, business support systems and CRM.
Jos Sluys, CEO of Saffelberg Investments, said: “We believe that, as a new shareholder known for its long-term commitments to our participations, we will provide Effortel with an opportunity to grow and expand even faster. The pipeline of opportunities looks good and Effortel’s technology proves both highly competitive and differentiating in its specialised markets.”