Why We Invested in Firsty: Democratizing Global Mobile Data with eSims

At Speedinvest, we're driven by a vision to back bold ideas that solve real problems and make technology accessible to everyone. Our investment in Firsty, a next-generation telecom provider, exemplifies this vision. Led by founders Vince Vissers and Gauthier Thierens, Firsty is breaking new ground by offering free mobile data globally, upending the slow-moving telecommunications industry.

Firsty’s eSIM-based freemium solution allows users to choose between essential connectivity at no cost and high-speed connectivity starting from €1 per day. In a little over a year since its founding, Firsty is reshaping how travelers, expats, and remote workers access mobile data across the globe. Here’s why we’re excited to join them on their journey:

Mobile Data Consumption is Booming

Global data consumption per smartphone user is growing rapidly, according to recent research by Ericsson. Whereas in 2023, people around the globe used on average 17GB of mobile data per month, this number is expected to grow by 16% year on year to 42GB by 2029. And, as global users spend about 60% of their time online from their mobile devices, the retail market for eSIM services is expected to boom in the following years, marking a 165% increase in spending from 2023 to 2025.  

Why now?

The concept of eSIM - or in more general terms a software-based SIM - was first introduced in 2010, but it took until 2017 for the first application of this new technology in a consumer device when Google unveiled its Pixel 2. Apple followed swiftly with the launch of its first eSIM-ready iPhones in 2018.

Still, we are early on the eSIM adoption curve. Even though there are about 200 eSIM-enabled devices out there today and Apple launched its first line of eSIM-only iPhones for the US Market in 2022, the majority of phones sold today do not yet support eSIM technology. However, this is changing fast. CCS Insight’s report on eSIM technology predicts that the proportion of global smartphone sales with support for eSIM will jump from 27% to 56% from 2023 to 2028. 

This technology shift will further accelerate the rapid increase of eSiM smartphone connections worldwide. Over the last 2 years alone, this number grew from about 144 million connections to almost 600 million, underlining the rapid global eSIM adoption. 

Firsty’s Fresh Take on Data Connectivity

The introduction of eSIM technology is reshaping mobile connectivity, allowing users to switch carrier plans and networks seamlessly without a physical SIM card. Firsty is capitalizing on this shift with a branded global network that offers consumers access to essential mobile data for free through an ad-supported service alongside affordable paid tiers for additional features starting from €1 per day for unlimited data. 

Just as Neobanks like Revolut and N26 brought innovation to personal banking by prioritizing digital-only convenience and transparency, Firsty is bringing fresh innovation to the notoriously slow-moving telecoms industry, by putting customers first.

Not only does Firsty provide global mobile data for free,  it also gives consumers more control, flexibility, and transparency when they want to use one of Firsty’s paid tiers. 

Users simply download the Firsty app to seamlessly connect to mobile data in any country, without having to worry about setup or hidden fees. You can use Firsty in over 150 markets, whether you are on land, at sea, or in the air. In addition, Firsty is the only solution on the market that allows you to retain unused data through their pause function, ultimately giving customers the best bang for their buck. 

Since launching their service in January 2024, the company has seen explosive growth. Firsty has attracted over 400.000 customers globally and its number of daily active users is increasing fast.

Uber is also taking note. The ride-hailing giant is partnering with Firsty, making it possible for users worldwide to access the Uber app and order a trip without extra data charges. 

Redefining the future of global mobile communication 

In order to build a truly disruptive product, you need founders who have seen game-changing innovation before. Vince and Gauthier bring impressive experience from their time at global payments giant Adyen, where they honed their skills in product management and data analytics. With Vince’s background in complex systems engineering and Gauthier’s expertise in data-driven solutions, this duo has a unique blend of technical and commercial acumen, driving Firsty’s product innovation and growth.

Together with a great set of co-investors, including DFF and executives from KPN, UBER, Booking, Mollie and obviously Adyen, we at Speedinvest are thrilled to support Vince, Gauthier, and the rest of the Firsty team as they continue to scale their platform and provide anyone in the world with (free) global data connectivity.

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