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Airalo locks in $60M to expand its eSIM-based global roaming ‘marketplace’ on July 31, 2023 at 2:26 pm

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Travel is back on the agenda after a Covid-19 hiatus, and today a mobile startup is announcing a healthy round of funding to capitalize on that. Airalo — which uses software-based eSIM connectivity to provide a wide range of lower-cost mobile data packages, nearly 700 in all, for international travellers — has raised $60 million in a Series B round that it will be using to expand its business.

The all-equity round, values Airalo at $250 million post-money, includes a long list of financial and strategic backers, a mix that speaks to who works with the startup as a business partner as a complement to their own direct operations.

e& Capital, the venture arm of e& (better known as the UAE-based carrier Etisalat), is leading the round with participation also from startup incubator Antler Elevate, Liberty Global, Rakuten Capital, Singtel Innov8, Surge (the early-stage fund run by Peak XV, formerly known as Sequoia Capital India and SEA), Orange, T.Capital (the venture arm of Deutsche Telecom), KPN Ventures, Telefónica Ventures, I2BF Global Ventures, GO Ventures, and LG Technology Ventures. This fundraise is a big step up for the company, which had previously raised just $7.3 million.

Although Airalo’s only just closed the round, the company is currently on a strong growth rate — 20% revenue growth month on month, with nearly 1 million downloads monthly for the past three months. And from what we understand, that’s leading to further interest from other potential investors. There are already discussions to bring extra backers on at a considerably higher valuation of between $800 million and $1 billion.

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Launched in 2019, Airalo is one of a group eSIM providers that have received an injection of life thanks to handset makers like Apple promoting the software-based standard as an easier way for users to move from one mobile carrier to another, doing away with requiring customers to physically change the small SIM card in their phones.

eSIM has been both a blessing and curse: it means carriers might have a better chance of wooing away customers from their current providers, but it also means it’s harder to lock in the customers they have. Overall, for consumers it’s a huge win, since it means mobile operators have to be a lot more creative and competitive to win business.

And that’s where Airalo has been showing promise. After a very slow start due to the pandemic when COO Abraham Burak said growth basically “stalled” for two years, it started to pick up momentum in 2022.

Although carriers these days have become more savvy with building and offering travellers more cost-effective mobile data plans, many of these tend not to be as flexible, and thus cheap, as what consumers want or need. eSIM offerings promise an alternative: more granular offerings at smaller pricing increments.

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Currently Airalo says that it has 5.1 million customers buying its eSIM products. These products are presented in a matrix of combinations covering some 200 countries, geographic regions, service durations, and data package sizes — in all currently totally 689 different combinations.

“We are seeing exponential growth in sign ups because travel is picking up,” said Burak, who co-founded the company with Bahadir Ozdemir (the CEO).

Burak and Airalo overall refers to this matrix of eSIM plans as its “marketplace”. That appears not to be a reference to multiple eSIM providers — Airalo is the only one selling to users — but to the large bazaar of carriers and carrier plans underpinning the deals.

Behind the scenes, Airalo builds out its many eSIM options by way of a network of carrier agreements that it brokers and then stitches together across the globe, some involving direct capacity purchased on a wholesale basis, and others involving reselling international roaming plans already structured by individual mobile carriers. Airalo has also built technology that measures demand and corresponding costs and pricing for these different eSIM packages.

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If you are asking yourself, why would a carrier work with a third party like Airalo, which might compete directly against it? It’s for the same reason that a brand might sell through many retailers while also selling goods directly through its own-branded storefronts: if a customer is already looking somewhere else for a good mobile roaming plan before travelling, chances are the carrier has already lost that customer. Cutting a deal with Airalo gives that carrier a chance — albeit one at a smaller margin — to still win some business.

It’s enough of an opportunity that Burak said that there have been acquisition approaches already from the carrier world.

That’s not to say that all eSIM providers are swimming in opportunity, or necessarily capitalizing on it just yet.

Another big name in the space, Truphone, which had raised hundreds of millions of dollars, recently faced a period of significant turbulence when its biggest shareholder, Roman Abramovich, was slapped with international sanctions over his connections to Russia and he and other Russian shareholders were forced to sell their holdings in the company. Despite some very interesting deals it had on the books including services to banks and a partnership with Apple, Truphone had never made a profit in 15 years of operations, so its sale and its future definitely looked uncertain.

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It look almost a whole year, but in the end Truphone was sold for £1 to two entrepreneurs, German businessman and tech entrepreneur Hakan Koç and former telecoms executive and private equity investor Pyrros Koussios, who pledged to invest more into the business and to expand the kinds of services it offers to enterprise customers.

(Indeed, stitching together data connectivity as an eSIM provider is not that far in concept from privacy-focused VPNs, which is something Truphone was already building for business customers, and may have been one of the interesting services that caught the eye of its Russian oligarch former owners.)

On that note, the idea of expanding what else an eSIM company can be providing to its customers beyond basic data is something that it seems Airalo is also taking on board, too. One new service it will be using the funding to help introduce is “Airalo Partners,” which it describes as “an innovative connectivity solution tailored to businesses and organizations across the globe.”

UAE has a number of international expat residents and itself has a population that is widely travelled, so it makes sense that an eSIM provider caught e&’s eye as an interesting investment opportunity.

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“We are pleased to lead the Series B financing round for Airalo, a company that has come a long way over the past 18 months with a focus on providing exceptional customer experience,” said Kushal Shah, managing director, e& capital, in a statement. “We have complete confidence in Airalo’s ability to expand its user community, strengthen its diverse team, and introduce its latest product Airalo Partners, a groundbreaking connectivity solution for global businesses and organizations. We believe that Airalo has the potential to become a travel essential and are excited to support their journey towards becoming the definitive gateway to instant connectivity worldwide.”

​ Travel is back on the agenda after a Covid-19 hiatus, and today a mobile startup is announcing a healthy round of funding to capitalize on that. Airalo — which uses software-based eSIM connectivity to provide a wide range of lower-cost mobile data packages, nearly 700 in all, for international travellers — has raised $60 million 

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No More Automatic Green Cards through Marriage

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Marrying a U.S. citizen has never automatically triggered a green card, but in 2025, the U.S. government has taken unprecedented steps to make the marriage-based residency process much stricter. If you’re considering this path, it’s critical to understand the significant changes and heightened scrutiny now shaping the journey from “I do” to permanent residency.

Increased Scrutiny on Marriage Fraud

The core reason for these changes is the government’s ongoing battle against immigration fraud. According to U.S. Citizenship and Immigration Services (USCIS), fake marriages remain one of the most common — and most aggressively prosecuted — forms of immigration fraud. This year, agencies have made clear that only genuine, legally recognized marriages will clear the hurdles for lawful permanent resident (green card) status. Sham marriages, or those arranged for immigration benefits rather than a bona fide relationship, are targeted for detailed investigation and potential deportation.

Step-by-Step: The Marriage-Based Green Card Process in 2025

  1. No More “Automatic” Green Cards
    • Marrying a U.S. citizen is only the first step. You must apply for a green card through a legal process that now requires extensive evidence your relationship is real and ongoing.
  2. Form and Filing Changes
    • In 2025, USCIS strictly enforces new editions of application forms — for adjustment of status (Form I-485), fiancé visas (Form I-129F), and petitions for relatives (Form I-130). Submitting even a single outdated page can trigger outright rejection, costing precious time and money.
  3. Evidence Requirements Have Tightened
    • Officials now demand clear, comprehensive proof of a genuine marital relationship. Examples include:
      • Joint bank accounts and tax returns
      • Shared leases, mortgages, or utility bills
      • Records of travel together
      • Messages, photos, and affidavits from friends/family
    • Simple wedding photos are no longer enough; fraud detection officers receive specialized training to spot faked documents and inconsistencies.
  1. Conditional Green Card—Not Permanent Right Away
    • If your marriage is less than 2 years old at the time of approval, you’ll be issued a conditional green card(“CR1”).
    • This allows you to live and work in the U.S. for 2 years, but it is a probationary period. Within the 90 days before the card expires, you and your spouse must jointly petition (Form I-751) to remove the conditions and receive a full, 10-year green card.
    • During this step, you must prove once again that the marriage remains genuine and was not entered into solely for immigration benefits. Failing to file, provide sufficient evidence, missing deadlines, or getting divorced before the end of this period can result in denial, deportation, or a permanent ban on reapplying.
  2. More Enforcement, More Risk

What Happens if the Marriage Ends?

  • Waivers are available if the marriage ends due to divorce or abuse, but the applicant must convincingly prove the marriage began in good faith, not to circumvent immigration laws.
  • If USCIS determines the relationship was fake or evidence is lacking, the applicant could face deportation and a lifetime ban from reapplying.
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Why Are These Changes Happening?

U.S. authorities say these reforms are a response to a real increase in attempted marriage fraud and the proliferation of “sham marriage” schemes. Recent years have seen several high-profile criminal cases and coordinated investigations. Protecting the legitimacy and security of the green card system has become a key national priority.

Key Takeaways for 2025 Applicants

  • Double-check all form editions and instructions before filing applications — even minor paperwork errors can now cost you your chance.
  • Prepare extensive evidence of a real, ongoing relationship. Start gathering financial records, joint leases, messages, travel documents, and third-party affidavits early.
  • Take conditional status seriously. Mark your calendar—with the stricter environment, missing even a procedural step could be disastrous.
  • Seek legal guidance if your circumstances are complex or you’ve faced any prior visa or immigration denials.

In short: Marrying a U.S. citizen in 2025 does not guarantee a green card. The process involves a two-year conditional period, multiple rounds of documentation, and close scrutiny to combat fraud. Real relationships, thorough preparation, and meticulous paperwork are essential to success in the new system.

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French President Macron Sues Candace Owens for Calling His Wife a Man

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Background

French President Emmanuel Macron and his wife, Brigitte Macron, have filed a defamation lawsuit in the United States against conservative commentator Candace Owens, following Owens’ repeated allegations that the First Lady is a man. The suit marks a notable escalation in a long-running campaign of harassment and conspiracy theories targeting Madame Macron, with the French couple now seeking legal redress beyond their home country.

Credit: Presidencia de la República Mexicana

Details of the Lawsuit

  • Filed In: Delaware Superior Court, United States
  • Plaintiffs: Emmanuel and Brigitte Macron
  • Defendant: Candace Owens and her business entities
  • Counts: 22 counts, including defamation and “false light”

The suit describes Owens’ claims as “outrageous, libelous, and implausible fabrications,” asserting that they have subjected the Macrons to “relentless bullying” and a “campaign of global humiliation.” The Macrons allege that Owens has repeatedly ignored credible evidence, favoring sensationalism and conspiracy to profit from their personal lives.

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Owens’ Statements and Actions

According to the legal filings:

  • Owens published a podcast series called Becoming Brigitte, and created social media content with her 4.5 million YouTube subscribers, asserting that Brigitte Macron is actually a man named Jean-Michel Trogneux (the name of Brigitte’s brother).
  • Owens also marketed merchandise and monetized content centered around these false claims.
  • She publicly declared that she would “stake [her] entire professional reputation” on these allegations, despite being repeatedly confronted with contrary evidence and direct denials from the Macrons.

The Macrons’ Response

The Macrons argue that:

Credit: Christophe Licoppe / European Union, 2025 / EC – Audiovisual Service

Context and Precedents

This lawsuit is unusual in that a sitting world leader is personally suing a foreign media personality in another country’s courts. Notably:

Credit: Gage Skidmore

What’s Next

The Macrons are seeking both compensatory and punitive damages, as well as a public correction of the record. Owens has stated she will address the lawsuit on her own podcast, but had not commented further as of the time of filing.

This high-profile case spotlights the difficulties public figures face in combating viral misinformation, while also raising questions about the limits of free speech, defamation laws, and international jurisdiction in the social media age.

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The U.S. Dollar Faces Its Biggest Shakeup in 60 Days

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Unprecedented Change on the Horizon

America’s financial system is experiencing sweeping transformation. A remarkable series of events—including landmark crypto legislation, China’s major reduction in U.S. Treasury holdings, and escalating friction between President Trump and Federal Reserve Chair Jerome Powell—signals a pivotal shift for the U.S. dollar and the future of global finance.

Congress Passes Groundbreaking Crypto Legislation

The GENIUS Act and More

  • The CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a retail central bank digital currency without congressional approval, effectively banning a U.S. government “digital dollar” CBDC.

Why it matters:
Advocates say these changes bring regulatory clarity, encourage the U.S. to maintain leadership in fintech, and respond to global competition, especially from China’s digital yuan and other BRICS initiatives.

China Dumps U.S. Treasuries to 16-Year Low

Implications:
While China remains a major holder, its steady sales draw global attention to the sustainability of U.S. debt financing and the dollar’s status as the world’s reserve currency.

Trump vs. the Fed: The Power Struggle Intensifies

The Digital Dollar Goes On-Chain

Market Impact: Crypto Leaders, Gold, and DeFi Technologies Rally

The Big Picture

  • These unprecedented developments represent the most significant change to the dollar system since the U.S. left the gold standard or the Federal Reserve was established.
  • America’s response to global monetary competition is now being shaped by a digital dollar, regulatory innovation, and shifting international alliances.
  • The next 60 days are primed for continued disruption, with the financial world watching closely for the long-term effects on the U.S. dollar’s dominance and the broader global order.
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