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Mobile network gamechanger, Honest Mobile, the mobile network which is good for you and good for the planet, has landed £3m in a round led by dmg ventures, alongside Wayra, Ascension, Focal and leading angels like Mikko Salovaara (Accel Scout), Lewis Hemens (Atomico Scout), Chris Mairs and Guillaume-Henri Huon.
As part of this round, Honest is also giving the public the chance to invest through a highly successful crowdfunding campaign on Seedrs. It’s already one of the most popular of 2023 and it’s open for a few more days.
Founded in 2019 by old school friends, Andy Aitken and Josh Mihill, Honest has quickly established itself as the most loved mobile network in the UK, with an NPS of >80, which is five times the industry average. It has achieved this by taking a thoughtful, customer-centric and tech-focused approach to its product offering, reminiscent of Monzo’s approach in the banking space.
As well as winning on product, it is also eating up market share in this archaic industry through better pricing, incredible customer support and a truly sustainable ethos. Honest is the first (and only!) Carbon Neutral and B Corp mobile network in the UK.
Honest’s expansion plans are particularly timely for UK consumers looking to pick up a cost effective mobile SIM package during the cost of living crisis. Elsewhere, consumers have faced 17.3% price rises and skyrocketing roaming charges. Honest is not bowing to price rises, and actually gives a 5% discount for every year you stay with them.
Furthermore, the company has a big product launch coming. With nine million Brits unhappy with their phone signal, according to OFCOM, Honest is now building the best signal in the UK, by offering customers access to all four UK mast networks, allowing you to do what you need to do, wherever you are, at an affordable price point, for the first time. It is also making roaming cheaper and easier, offering global access for a fixed monthly fee. Sign the whole family up and WhatsApp as much as you like from Andorra to Australia!
It’s easy to see why Honest has grown three times in the last 12 months, with thousands of subscribers now reaping the rewards of being an Honest customer.
Andy Aitken, Co-Founder and CEO of Honest Mobile, reflects:
“We’ve built Honest on a shoestring so far, and are excited to bring on board world class investors and a capital injection to help us show the other mobile networks in the UK that there’s a better way to do business. That means no more price hikes, no more waiting around on hold, no more carbon footprint and four times better signal.”
Taos Edmondson, Principal at dmg ventures and founder at Focal, which both invested in the round, says:
“The team at Honest has built a value proposition where there is no compromise between price, product and sustainability. Andy, Josh and the team at Honest have already shown incredible resourcefulness to build and quickly scale a radically different mobile network from scratch. But, what we’re most excited about is that there is no sign of Honest’s product innovation or growth slowing down.”
For more information please contact:
Andy Aitken | Co Founder & CEO
About Honest Mobile
Honest Mobile is the world’s first Carbon Negative mobile network. It is the best rated pay monthly network on TrustPilot with a Net Promoter Score of over 80.
Honest Mobile was founded in 2019 by two school friends, Andy Aitken and Josh Mihill, to turn the mobile industry on its head and change mobile for good. With Honest Mobile your bill gets cheaper every month thanks to a Loyalty Discount, your phone is carbon negative and customer support is a joy with help at hand in less than 60 seconds on average. As the UK’s only B Corp mobile network, Honest Mobile is legally committed to consider people (both customers and employees) and the planet, alongside profit, in their decision making.
Anyone in the UK can join Honest Mobile today by downloading the Honest Mobile app and signing up in under a minute. Your SIM will arrive the next day and you can choose what day you want to transfer your number.
Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future. Seedrs or the fundraising business do not make investment recommendations to you and any investment decision should be made on the basis of the full campaign. No communications about any campaigns on Seedrs you receive from Seedrs or the fundraising business, through email or any other medium, should be construed as an investment recommendation. This page has been approved as a financial promotion by Seedrs Limited on 22.03.23.
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