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Gigs plans to develop a mobile service platform
Gigs has completed a US$73 million Series B funding round. The startup provides a telecoms-as-a-service solution that helps companies significantly reduce the cost of developing mobile services. Ribbit Capital was a lead investor in the round.
The company was founded in Germany in 2020 by Hermann Frank and Dennis Bauer. The company’s headquarters is in San Francisco. The company has a team of more than 90 employees in Germany and the US.
The platform’s features
Gig launched a product that dramatically speeds up mobile service development. The tool reduces operational costs to a minimum. While implementing mobile solutions usually takes years, Gigs considerably accelerates this process.
Company and its product benefits:
- the Gigs operating system provides technology companies with the ability to implement their premium services;
- the average startup time for a tool is a few weeks;
- the integration of all processes guarantees high results;
- the startup approach eliminates the need to hire a team of telecom engineers;
- it removes the need to manage multiple mobile service providers.
The Gigs product lets the startup run mobile services on a single platform. It houses a wide range of features, including API connectivity and multi-currency payment outlets. The tool also provides a mechanism for artificial intelligence-based services.
Offer relevance
Herman Frank emphasises that one of the main goals of Gigs is to simplify telecom transactions. He believes that the process of getting a calling plan should be as simple and quick as possible. At the moment, the process involves many steps and takes a long time. In addition, mobile plans do not always meet the modern user’s needs, which creates a demand for innovation.
Gigs offers technology companies a different approach to creating mobile services. The platform helps them to sell plans directly through applications.
Mobile communication is one of the most demanded services. Despite this, the sector has a low level of customer satisfaction. The Gigs platform helps to transform the industry and change the approach to mobile subscriptions.
The investment will help the startup strengthen its position in the sector. Gigs’ immediate plans include expanding its geographical presence. In addition, the company intends to develop a package of services for technology sector representatives. The developers are particularly interested in implementing AI for process management.
The investor Ribbit Capital noted the gig platform’s high potential for developing new industry solutions. He also expressed his willingness to support the startup in implementing innovative ideas and scaling its activities.