Lyca Mobile is to invest £250 million over the next three years in a bid to grow its core business and expand into new markets, specifically digital services.
The company was formed in 2006 and has a presence in 23 countries, specialising in the sale of SIM cards with favourable international calling rates for expatriates and those with friends and family living abroad.
It delivers these services through Mobile Virtual Network Operator (MVNO) arrangements, including with O2 in the UK, and claims to be the “world’s largest MVNO” with more than 16 million customers.
The investment will allow it to build on this legacy by expanding MVNO operations in key markets in Asia and Latin America, and to offer new digital services that attract customers beyond its traditional reach.
A new digital platform, built in partnership with IBM and SAP, will transform its infrastructure and enable the development of a commerce cloud. The company also wants to work with consumer-focused media platforms that will add value to its tariffs.
The first fruit of this investment is a new UK plan that offers 50GB of data and unlimited calls and texts and 100 international minutes a month for £12. The true innovation is that customers will be able
To widen its appeal, Lyca Mobile has adopted a new brand identity, designed by Clear M&C Saatchi, that it says reflects its new digital-first approach. The refresh will be supported by a multi-channel advertising campaign across TV, digital, and out-of-home channels.
“This investment is testament to our commitment to transform the business and take our services to a wider audience,” declared Lyca Group CEO Navanit Narayan, who assumed his current role in April.
“Covid-19 has expedited the emergence of a new set of consumer mobile behaviours and values. Customers expect more diverse, differentiated and value-added services – and there’s a real opportunity for us to deliver exactly that as we look to grow our market share in the UK and beyond.
“Our ambition will help us attract new customers and further demonstrate the benefits of partnering with Lyca Mobile to global mobile network operators. We are also proud that, as a UK-based multinational, we are in a position to inject such significant investment into the economy.”