Ireland-based MVNO Just Mobile will be scrapped on 19 August after failing to secure further funding, barely a year after first launching prepaid services in the country.
“We were unable to secure follow on funding in the current environment and our…
Ireland-based MVNO Just Mobile will be scrapped on 19 August after failing to secure further funding, barely a year after first launching prepaid services in the country.
“We were unable to secure follow on funding in the current environment and our main partner Vodafone and other suppliers, who have been very supportive, could not continue to support us any longer,” the group states on its website.
“This is something no-one wanted. We believe we created something special for our customers, but unfortunately the business climate is not conducive for young companies to raise capital in.”
Reports suggest the company had been seeking to raise approximately E2m from investors.
The company was reportedly predominately backed by Powerscourt Capital Partners.
Just Mobile could not be contacted before the press deadline.
According to a statement by local regulator Comreg, the MVNO will wind down its services gradually until 19 August, when “customers will no longer be able to receive calls or texts, but will still be able to switch to another mobile operator and keep their number”.
The MVNO was launched in October 2011 in partnership with convenience store chain Spar, which marketed its top-up products. It was focused on the price-conscious 18-35-year-old market.
