Germany-founded, San Francisco-based company Gigs today announced that it has raised a $73 million Series B led by Ribbit Capital.

Gigs was founded by Hermann Frank and Dennis Bauer in 2020 and now employs over 90 people across the US and Europe. 

The company reduces the cost of setting up a mobile service in one or multiple markets, as well as lowering operational and service costs to near zero. Without Gigs, developing and refining their service would take new entrants to the mobile service market years.

Specifically, the company’s operating system empowers tech players to launch their own mobile service on premium networks globally within weeks, all through a single integration. This eliminates the need to hire large teams of telecom engineers, navigate compliance hurdles, or manage multiple vendors and platforms.

By providing everything you need to launch your own mobile service in one platform — from a  connectivity API and a hosted checkout to a multi-currency payments suite and AI-powered customer service — Gigs removes the complexity, time-to-market, and costs for tech brands wanting to embed their own mobile services into their digital products and services.

According to Hermann Frank, co-founder and CEO at Gigs, getting a phone plan should be as easy as ordering an Uber, not as complicated as leasing a car at a dealership. 

“The truth, however, is that phone plans are stuck in the past: analog, uniform, and, frankly, unloved. Extremely high barriers to entry have kept innovation out of the industry for too long.” 

Gigs breaks down these hurdles by empowering any tech company to distribute phone plans directly through their apps, transforming connectivity from a standalone commodity into a core, customisable feature.”

Jordan Angelos, General Partner at Ribbit Capital, shared:

 “Mobile connectivity, like banking, is one of the most widely used consumer services globally. Yet, it consistently ranks among the lowest in customer satisfaction.

Gigs is seizing a once-in-a-decade opportunity to revolutionise the $1T+ annual mobile subscription market.”

Gigs will use the funding to expand its geographical footprint and invest in an expanded suite of products and services for tech companies. This will enable more tech brands to innovate in telecom, provide more value to their customers, and tap into a new recurring revenue stream.

Lead image: Gigs. Photo: uncredited.