Moflix Group, a telecommunications industry pioneer providing next-generation digital solutions, announced that it has raised a $3.1 million seed round. The funding provided by The Hashgraph Association (THA) and additional strategic angel investment will accelerate Moflix in its mission to lead the convergence of mobile services and Web3 to drive widespread adoption.
With its technology centre and core innovation team based in Tampere Finland, Moflix provides game-changing digital solutions that transform how telcos do business. The Moflix TelcoTech Platform combines a modern all-digital Telco experience with a flexible webscale Tech platform to offer the telco industry the same disruptive opportunities that FinTech brings to financial services.
The funding will be utilized for research and development of Web3 functionalities as well as for the deployment to mobile operators globally.
The first deployment that will put a mobile service provider at the heart of enabling Web3 mass adoption will be for USA-based fliggs mobile who has chosen the Moflix TelcoTech Platform to power the world’s first all-digital Web3 MVNO.
fliggs mobile CEO, Stefan Riedel says, “In starting a daring new mobile business that really challenges the status quo of what telco is about, we couldn’t ask for a better partner than Moflix and their groundbreaking TelcoTech Platform. By combining a market-leading mobile subscription with digital wallet capabilities in an engaging super app, we are making Web3 accessible to everyone. We believe this is the future of telecommunications, and Moflix is the clear leader in making this a reality for service providers like us.”
During onboarding, the new Telco customer will be issued a Decentralized Digital ID (DID) and respective verifiable credentials (VC) in a digital wallet to enable a convenient and secure gateway to the Web3 access and giving them greater control over their data and privacy in digital transactions. The digital wallet facilitates participation in Web3 transactions from payments, cashback loyalty programs, and further finance and identity-related services.
Ryan Gold, Moflix CEO, said: “Web3 will irrevocably change the power structure and economics of the Internet. It envisions a massive shift away from centralized platforms toward a new way of communicating, storing information, and making payments. Moflix is uniquely positioned to help Operators navigate this brave new world of Web3 initiatives. We look forward to seeing strong growth for our company as we continue to expand our team.”
Since entering the market in 2019, Moflix has built a strong track record in empowering Telco operators to launch a fully digital mobile service in under 100 days with a world-class eSIM onboarding experience. In this short time, Moflix has quickly gained industry and expert analyst recognition for its award-winning TelcoTech platform and for delivering on multiple innovative industry firsts in record time.
Moflix’s groundbreaking work to emulate the best practices of excellent digital customer experiences from other industries has been validated with our customer NiceMobile (Ice, Norway) receiving the highest NPS score of any Norwegian telecom operator, winning “Consumer eSIM Solution of the Year” (2022) and “Digital UX Sub-brand of the Year (2023),” finalist for TM Forum’s prestigious “Excellence in Customer Experience (2023)” award, and receiving over ten separate awards for “Best Mobile Subscription.”
Moflix’s success with eSIM can also be seen from being rated as the #2 in the world in the “Global eSIM Orchestration” scorecard report by Counterpoint Research, placing well ahead of industry veterans Nokia and Ericsson as well as other completely eSIM-focused companies.
Combining the shift to eSIM with the distribution of Web3 wallets to consumers will be the most powerful weapon Telcos have to fight revenue declines, putting them in pole position to drive the reinvention of the Telco business model and become the future gateway to the wider world of Web3.