CVC has led a $220m Series B funding round in Singapore-based travel technology company Airalo, valuing the business at over $1bn and marking one of Southeast Asia’s largest growth-stage financings in 2024, according to a report by Reuters.
The round was anchored by CVC’s Asia Fund VI, which committed $185m. Existing investors Peak XV Partners and Antler Elevate also participated, alongside strategic backers including Telefónica Open Innovation, Orange Ventures, and Liberty Global Ventures.
Founded in 2019, Airalo operates a global marketplace for eSIMs – a digital alternative to physical SIM cards that allows international travellers to access mobile data across borders without traditional roaming charges. The platform currently serves over 20 million users in more than 200 markets.
The fresh capital will be deployed to accelerate product development, enhance customer experience, and support global expansion. In a joint statement, the company emphasised its focus on scaling operations and strengthening its tech infrastructure to meet growing demand from both consumers and enterprise partners.
The investment marks a significant bet by CVC on the global travel tech sector, and comes amid rising interest from institutional investors in digital infrastructure platforms serving cross-border mobility.
