The rebellious mobile carrier gets new investors. Angel investors and Aggregate Media contribute with a total of over $1.2 million.
Fello’s business model is based around being a bit nicer than its competitors. The siblings Lisa and John Axelberg is betting on a business model without telemarketing or binding period subscriptions. The company also doesn’t have its own cell network. Instead it rents Telias network in Sweden.
Aggregate Media has now given Fello a marketing budget of $940,000, in exchange for shares in the company. Fello has also raised almost $300.000 from angel investors, among others Johan Norin and Johan Hallenby.
Aggregate Media always invests by offering companies media advertising and not with cash. But for Fello, that is actually not that bad.
“Our customer base has doubled in size the last 4 months. We’re 100 percent focused on marketing now. We got all the paperwork for the investment in order late in December, and we feel that we’re well prepared for 2016”, co-founder John Axelberg says.
Fello has also secured got a distribution deal with several cell phone producers and are hiring a developer to meet it’s customers demand of added functions to its service.
“E-invoice and direct debit are some of the things that we’ve already added. We are currently working on a referral function to make it easier for our customers to tell their friends about Fello”, John Axelberg says.
The company’s total sales amounted to just above $20.000 in 2014. The company has previously announced that the revenue goal for 2015 was $400.000 and John Axelberg says that they ended the year somewhere in that area.