CVC Leads $220M Investment Round in Airalo with Global Private Markets Expertise

CVC Capital Partners has led a $220 million investment round in Airalo, a mobile virtual network operator. The investment is part of CVC's private equity strategy, which manages approximately $200 billion in assets under management across seven investment strategies globally. The investment in Airalo is expected to support the company's expansion and growth in the mobile virtual network operator market.

In a significant move, CVC Capital Partners has led a $220 million investment round in Airalo, a leading mobile virtual network operator (MVNO) specializing in eSIM solutions. This investment, part of CVC's private equity strategy, aims to support Airalo's expansion and growth in the competitive MVNO market [1].

Airalo, the world's first and largest eSIM provider, has seen rapid growth driven by surging global demand. The company's innovative eSIM technology allows travelers to access high-quality mobile connectivity abroad at a fraction of traditional roaming costs. With over 20 million travelers served across 200+ destinations, Airalo is well-positioned to capitalize on the growing demand for borderless mobile access [1].

The investment includes $185 million from lead investor CVC (through its CVC Asia Fund VI), with participation from existing investors Peak XV and Antler Elevate. This new capital will fuel Airalo's growth by enhancing user support, developing new products, and improving value for money. Additionally, the investment will support the expansion of Airalo's enterprise platform, which caters to businesses by offering streamlined connectivity solutions for employees and customers [1].

Ahmet Bahadir Ozdemir, CEO and co-founder of Airalo, commented, "This funding is a major milestone for Airalo and the future of global connectivity. It allows us to drive innovation across every part of the user journey, delivering more flexible plans and a faster, more seamless experience. We're not just enabling better eSIM solutions for travel—we're building the infrastructure for the next generation of international mobile connectivity" [1].

CVC Capital Partners, a private equity and venture capital firm specializing in middle market secondaries and growth equity, has a strong track record in investing in fintech, healthcare, and telecommunications sectors. With approximately $200 billion in assets under management across seven investment strategies globally, CVC seeks to invest in companies with enterprise values between $250 million and $1.5 billion for its Asia private equity strategy [2].

The investment in Airalo reflects CVC's strategy to support innovative companies in the digital travel eSIM market, which is poised to become the main method for consumers to receive high-quality mobile connectivity abroad at lower prices than traditional roaming services [1].

Airalo's latest funding round will enable the company to introduce new data bundles, including 1GB plans for short trips and 30-day unlimited data bundles for longer stays. Additionally, Airalo will roll out a new in-app experience across web, iOS, and Android platforms to further enhance the user journey [1].

The investment in Airalo is part of a broader trend in the mobile telecoms industry, where traditional mobile network operators (MNOs) are evolving to become digital lifestyle partners. This shift involves diversifying offerings beyond voice and data into areas like broadband, content services, and smart home technology, as well as adopting new monetization strategies like speed-based pricing and bundling services [3].

As Airalo continues to expand its connectivity offerings and scale its enterprise platform, the company is well-positioned to capitalize on the growing demand for borderless mobile access and digital lifestyle services. The $220 million investment from CVC Capital Partners will play a crucial role in supporting Airalo's growth and innovation in the competitive MVNO market.

References:
[1] https://www.cvc.com/media/news/2025/airalo-becomes-the-first-esim-unicorn-with-an-investment-round-of-220m/
[2] https://finance.yahoo.com/quote/CVC.AS/
[3] https://inform.tmforum.org/features-and-opinion/mobile-network-operators-must-ditch-the-data-and-become-lifestyle-partners