TNS Global backs eSIM Go expansion into the UK MVNO market

TNS Global has led an investment round in eSIM Go. The funding will support the UK company's geographic expansion and push into the MVNO market.

The deal brings strategic backing from the Dubai-headquartered telecoms and digital infrastructure group, which has roots in Kazakhstan. Since 2020, eSIM Go has grown into a business-to-business travel eSIM platform serving brands in travel, fintech, mobile and digital services.

The investment comes as competition intensifies in digital roaming and embedded mobile services. Travel eSIM has become a fast-growing segment as travellers look for alternatives to traditional roaming charges and brands seek to add mobile connectivity to their offers.

Research cited by the companies forecasts the travel eSIM market will expand at a compound annual growth rate of 37% until at least 2030. That growth has drawn interest from telecoms groups and investors seeking new parts of the mobile market beyond conventional operator models.

Expansion plans

Under the deal, TNS Global will back eSIM Go's expansion into Eurasia and other markets. The funding will also support further development of the company's technology and connectivity base, while maintaining a focus on profitable growth.

Alongside travel eSIM, eSIM Go is targeting the UK mobile virtual network operator market. It is positioning itself as a way for consumer brands to launch mobile services without building the infrastructure normally associated with becoming a mobile provider.

It has already launched a UK MVNO offering through a partnership with Vodafone Three and secured dozens of commercial partnerships, including with Loopdl, SecondSIM, Faith Mobile and Symu.

That focus reflects a wider shift in telecoms, as software platforms and wholesale access agreements lower the barriers for specialist brands to enter mobile services. Providers are increasingly looking to serve niche customer groups, including migrant communities, through digital-first offers.

For TNS Global, the investment provides a position in a part of the mobile market that sits close to its existing wholesale telecoms and digital infrastructure business. The group operates across international routes linking Europe, the Middle East and Asia, and sells services including data, voice, messaging and IP transit.

Its involvement also points to a broader pattern of capital from Eurasian telecoms businesses moving into global connectivity software and service platforms. Investors in the region have sought assets that can extend their reach beyond backbone networks and wholesale transport into customer-facing mobile services.

"We are excited to support eSIM Go in its next phase of growth. The company represents a strong strategic fit with our vision to expand into scalable, profitable and high-growth digital connectivity segments, complementing our core digital infrastructure footprint," said Obaid Rahman, Group Chief Executive Officer, TNS Global.

Platform strategy

eSIM Go's management team will remain in place following the investment. The company has built its business around giving partners different ways to offer eSIM services, including direct API integration, co-branded products and affiliate arrangements.

Its platform supports eSIM data bundles across more than 1,200 networks in over 190 countries, according to the company. That reach has helped it sell to travel brands, mobile operators, fintech companies and other digital service businesses looking to add connectivity products without becoming telecoms operators themselves.

The company's next phase is likely to depend on how far it can turn its travel eSIM position into a broader role in UK and international mobile services. The MVNO market has long attracted brands hoping to use mobile plans to deepen customer relationships, but economics and operational complexity have often limited participation.

eSIM Go argues those barriers are falling. Its platform is designed to help both new and existing brands launch mobile offers more quickly, with an initial focus on the UK before broader international expansion.

"Our focus is profitable and cash-generative growth, scaling early success in the UK MVNO market, and consolidating our market leadership in the eSIM enabler space," said Zacc Couldrick, Co-founder and Chief Executive Officer, eSIM Go.

"This investment marks a new era for eSIM Go, as we mature the company upon the solid foundations of a resilient team and best-in-class technology at the experience layer," said Couldrick.

"We seek to maintain and strengthen our position as the gold standard in Travel eSIM for partner and end-user experience. The core eSIM Go management team remains in place. The timing is perfect for welcoming such vastly experienced investors from the MVNO and wholesale space to open more doors and bring strategic, operational, regional and commercial advantages," added Couldrick.