Virgin Mobile Latin America is an MVNO targeting Latin America led by Chairman & co-Founder Phil Wallace. The company raised US$26.5m in new equity funding. Backers include existing shareholders the Virgin Group and ePlanet Capital, alongside new investors Hermes Growth Partners, CANEPA and Souter Investments. The company intends to use the capital to further develop its regional business and to launch services in Chile. It plans to expand the Virgin Mobile brand throughout Latin America and has targeted launches in seven further markets, including Colombia, Brazil, Argentina and Mexico. Virgin Mobile Latin America joins a network of Virgin Mobile operations in seven countries (Australia, Canada, France, India, South Africa, UK and the USA) serving 15 million mobile subscribers. In conjunction with the funding, Juan Villalonga joined the company’s Board of Directors.

Total raised

$27M

Funding rounds

1

Latest round

Equity

Latest activity

May 2012