The money will go towards accelerating the development of its "telcotech platform", which allows the company to automate most of its service operations.

Published 2018-06-05 18:35:57

Singapore-based telecommunications firm MyRepublic recently announced that it has secured an additional US$60 million (S$80.1 million) in investment funding.

Just last November, MyRepublic had secured S$70 million from Makara Capital, bringing its total funding to date to US$150 million.

Backed by CLSA Capital Partners – the asset management business of CLSA and Kamet Capital Partners – this fresh funding will be used to further develop its “telcotech platform”, which automates the company’s service operations.

Following this new investment, MyRepublic said that it is looking to launch new telecommunications services across the region, including mobile and TV.

Just last month, the telco announced that it’s partnering local telco StarHub to offer mobile services in Singapore.

Gears For HK IPO Within “18 To 24 Months”

MyRepublic CEO Malcom Rodrigues / Image Credit: MyRepublic

It added that it also intends to list in Hong Kong within the next “18 to 24 months”.

According to CEO Malcom Rodrigues, “Hong Kong is a particularly good fit for MyRepublic as CLSA is an excellent enabler for listings on the Hong Kong exchange, and [it’s] also a good fit for tech listings”.

Previously, it had said that it was interested in listing in Singapore, Australia or Hong Kong; and this was expected to take place at the end of this year.

Featured Image Credit: illawarramercury

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