Singapore-based travel eSIM provider Truely has announced that it has secured an additional $2 million in funding. This round of financing was led by DG Daiwa Ventures, Goodwater Capital, and Disrupt.com, with continued support from existing investor Beenext. This brings Truely’s total funding to $5.5 million. The company plans to use the new capital to enhance its product development, expand its network capabilities, and introduce new enterprise tools aimed at frequent travelers and remote teams.
Truely, founded in 2023, offers a unique “Switchless” eSIM technology that allows users to install an eSIM once and manage data plans across 190+ countries without the need for reinstallation. This innovative approach has already helped the company gain significant traction, with strong growth in its B2C segment following the launch of Truely 2.0. The company’s eSIM service is compatible with any device that supports eSIM technology, ensuring seamless connectivity for travelers.
According to Kaleido Intelligence, the global travel eSIM market is projected to surpass $3 billion by 2025. Truely is well-positioned to capitalize on this growing market, with plans to scale its network infrastructure, launch localized pricing and payment features, and develop tools tailored for team and business travel. The company is also focusing on expanding its B2B2C partnerships with online travel agencies, airlines, and fintech platforms to embed its eSIM capabilities into third-party platforms.
