Friendi Group secures US$25 m in funding
2011-04-29
Dubai based leading MVNO/B-brand provider Friendi Group secured the funding of US$ 25 million to further accelerate expansion plans across the Middle East, Africa and Asia region. The new funding comprises US$10 million equity from new and existing shareholders, plus a US$15 million structured debt facility from Standard Bank. FRiENDi GROUP currently operates using a proven business model delivering significant benefits to its customers and mobile telecom operator partners in Oman, Jordan and Saudi Arabia.
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