Gigs closes financing round

The start-up was able to raise 20 million US dollars from investors such as Gradient.

Berlin-based startup Gigs has raised $20 million in its Series A funding round. Gradient, Google's early-stage venture fund, led the round. Venture capitalists YC Continuity, Crane Venture Partners, Speedinvest and Boxgroup also gave money. Dara Khosrowshahi (CEO of Uber), Tony Xu (co-founder & CEO of Doordash), Fidji Simo (CEO of Instacart), Hanno Renner (co-founder

& CEO of Personio) and Max Tayenthal (Co-Founder & Co-CEO of N26) also participated. Gigs intends to use the money to expand its team and further develop its technical infrastructure.

With Gigs, companies should be able to offer their own eSIM and SIM-enabled mobile services of any size on mobile networks worldwide. This would allow them to launch their own mobile service while having control over branding and pricing, the startup advertises. According to Gigs, neobanks that want to offer their own mobile plans alongside their credit or debit cards are among those interested. There is also demand from employee management platforms, he said.

"Telecom providers have failed to make their services easily accessible to technology-driven businesses and remain a closed system," says Dennis Bauer, co-founder and president of Gigs. "We have a unique opportunity to modernize an industry that, to date, has failed to adapt to the needs of modern technology companies."