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- Airalo
Airalo Revenue, Valuation, Funding & Investors
Airalo is valued at $1B as of July 2025, a 16.9x multiple on its last reported $59M revenue.
Last Airalo valuation
$1B
Series C · Jul 2025
Last Airalo funding round
$220M
Series C · Jul 2025
Airalo revenue
$59M
Series C · Jul 2025
Key investors in Airalo
Antler
Peak XV Partners
Plug and Play
Bossa Invest
CVC Capital Partners
Singtel Innov8
About Airalo
Airalo is a global eSIM marketplace offering data plans for travelers in over 200 destinations. The app-based platform provides regional packs for Europe, Asia, and multi-country options compatible with iPhones, Androids, and tablets. Users install eSIMs via QR codes, avoiding roaming fees with prepaid data from local networks like AIS in Thailand and Three UK.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Usage-based
Revenue
$59M (Jul 2025)
Valuation
$1B (Jul 2025)
Airalo Valuation
Airalo is currently valued at $1B, based on its Series C in July 2025.
The $220M round was led by CVC Capital Partners, with participation from Antler and Peak XV Partners.
Airalo's valuation has grown 909x from $1M at its pre-seed round in July 2019 to $1B in July 2025, across 3 priced rounds.
Airalo valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2025 | Series C | $1B | 16.9x |
| Jul 2023 | Series B | $280M | - |
| Jul 2019 | Pre-seed | $1M | - |
Airalo Revenue
Airalo's latest recorded revenue is $59M, as of its Series C in July 2025. At a $1B valuation, that implies a 16.9x revenue multiple.
Airalo revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2025 | $59M | $1B | 16.9x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Airalo Funding History
Airalo has raised a total of $287M across 5 funding rounds.
Airalo's first fundraising round was a $100K pre-seed round in July 2019. The most recent completed round was a $220M Series C in July 2025.
Airalo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Series C | CVC Capital Partners (lead); Antler; Peak XV Partners | $220M | $1B | Airalo is the world's first and largest eSIM provider, founded in 2019 and based in Delaware with operations centered in Singapore. The company provides digital SIM cards that enable international travelers to avoid high roaming fees, serving over 20 million users across 200+ destinations. In July 2025, Airalo raised $220 million in growth capital led by CVC Capital Partners through its CVC Asia Fund VI, with $185 million contributed by CVC and additional participation from existing investors Peak XV and Antler Elevate. This investment valued the company at over $1 billion, marking Airalo's official status as the first unicorn in the eSIM sector. The company planned to deploy capital toward scaling its consumer app, enhancing customer service, developing new product offerings including expanded data bundles ranging from 1GB short-stay plans to 30-day unlimited data packages, and accelerating its enterprise and white-label connectivity platform for business customers. At the time of funding, the broader digital travel eSIM market was valued at approximately $1 billion, positioning Airalo as the clear category leader with a highly scalable, primarily organic growth model. |
| Jul 2023 | Series B | e& capital (lead) | $60M | $280M | Airalo is a Singapore-founded eSIM marketplace, headquartered in Delaware, USA, that provides travelers with access to digital data packages in over 200 countries and regions, revolutionizing global connectivity by making it accessible and affordable. On July 31, 2023, Airalo closed a $60 million all-equity Series B funding round led by e& capital, the investment arm of the global technology group e&, bringing its total funding to $67.3 million. Other participants included Antler Elevate, Liberty Global, Orange Ventures, T.Capital (Deutsche Telekom's venture arm), Rakuten Capital, Singtel Innov8, Telefónica Ventures, Sequoia Capital India/SEA (now Peak XV Partners' Surge), KPN Ventures, and I2BF Global Ventures. The round valued Airalo at $280 million post-money, a significant step up from its prior $7.3 million Series A. Funds will support expansion of its millions-strong user community, global team growth, and launch of Airalo Partners, a B2B connectivity solution for businesses and organizations. At the time, Airalo reported 20% month-on-month revenue growth and nearly 1 million app downloads monthly for the prior three months, though specific revenue figures were not disclosed. e& capital's Managing Director Kushal Shah highlighted Airalo's customer experience focus and potential as a travel essential. Post-Series B, discussions emerged for additional investors at $800 million to $1 billion valuations. In July 2025, Airalo raised $220 million in a later round led by CVC, achieving unicorn status with over $1 billion valuation and total funding surpassing $287 million across five rounds. |
| Oct 2021 | Series A | Rakuten Ventures (lead); Plug and Play; LG Technology Ventures; Singtel Innov8; Wayra UK; Antler; I2BF Global Ventures; GO Ventures; Peak XV Partners; Bossa Invest | $5M | - | Airalo raised $5.4 million in its Series A financing round in late 2021, led by Rakuten Ventures, with participation from Antler, Singtel Innov8, Wayra (Telefonica), LG Technology Ventures, GO Ventures, Plug and Play, I2BF Global Ventures, and others including Sequoia Capital India's Surge. The U.S.-based startup, previously securing $1.9 million in seed funding from Antler and Surge in October 2019, provides eSIM-based global connectivity in over 190 countries and regions. Since inception, Airalo achieved 15X customer growth and exponential daily user increases. Rakuten Ventures invests in early and growth-stage IT startups, leveraging its global network. LG Technology Ventures, managing over $450 million, focuses on early-stage startups in AI, mobility, data analytics, mobile, and 5G, fostering strategic partnerships within the LG ecosystem. The funding supported Airalo's global expansion as a digital SIM marketplace for lower-cost mobile data packages for international travelers. |
| Oct 2019 | Seed | Peak XV Partners | $2M | - | - |
| Jul 2019 | Pre-seed | Antler | $100K | $1M | - |
Who has invested in Airalo?
12 investors have backed Airalo across its funding rounds, including Antler, Peak XV Partners, Plug and Play, Bossa Invest, CVC Capital Partners and Singtel Innov8.
Lead investors include CVC Capital Partners, e& capital and Rakuten Ventures.
Airalo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jul 2019 | ||
| 3 | Participant | Oct 2019 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Lead | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Lead | Jul 2023 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Lead | Jul 2025 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 12 Airalo investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAiralo Competitors
Airalo competitors include listed companies like Superloop and HKBN, and private ones like CargoX, Fora, Iwjw and Omio.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $389M | $53M | $993M | 2.2x | ||
| Publicly listed | $1.4B | $264M | $1B | 1.6x |
Airalo Public Comps
Airalo is still privately-owned, but its public comps include Superloop, HKBN, Converge ICT, Sonaecom, Tripadvisor, Nepal Telecom, GMO internet, Dialog Axiata, Kazakhtelecom and Macquarie Technology Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $389M | $53M | 2.8x | 2.2x | 20.7x | 11.9x | |||
| $1.4B | $264M | 1.7x | 1.6x | 8.9x | 7.7x | |||
| $714M | $397M | 1.8x | 1.7x | 3.3x | 3.0x | |||
| $20M | $1M | 39.0x | - | 594.1x | - | |||
| $1.9B | $160M | 0.6x | 0.6x | 6.8x | 4.2x | |||
| $227M | $111M | 3.3x | - | 6.7x | - | |||
| $505M | $85M | 1.8x | 1.8x | 11.0x | - | |||
| $542M | $231M | 2.0x | 1.8x | 4.6x | - | |||
This data is available for Pro users. Sign up to see all Airalo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Airalo
| When was Airalo founded? | Airalo was founded in 2019. |
| Where is Airalo headquartered? | Airalo is headquartered in Singapore, Singapore. |
| Is Airalo publicly listed? | No, Airalo is a private, VC-backed company. |
| What is Airalo's valuation? | Airalo was last valued at $1B in its Series C in July 2025. |
| How much funding has Airalo raised? | Airalo has raised $287M across 5 funding rounds. |
| What was Airalo's last funding round? | Airalo's last funding round was a $220M Series C in July 2025, led by CVC Capital Partners. |
| Who are Airalo's investors? | Airalo's investors include Antler, Peak XV Partners, Plug and Play, Rakuten Ventures, LG Technology Ventures, e& capital, Singtel Innov8, CVC Capital Partners, Wayra UK, I2BF Global Ventures and 2 others. |
| What is Airalo's revenue? | Airalo's latest recorded revenue is $59M (July 2025). |
| What is Airalo's revenue multiple? | Airalo's latest valuation implies a 16.9x revenue multiple ($1B valuation on $59M of revenue). |
| Which companies are comparable to Airalo? | Companies comparable to Airalo include CargoX, Fora, Iwjw, Omio, Superloop and HKBN. |
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