January 11 (SeeNews) - Romanian startup investment platform ROCA X said on Monday that it is investing 150,000 euro ($183,600) in local virtual mobile operator Benefito Mobile.
The investment will finance the commercial launch of Benefito Mobile planned for the second quarter of this year, Roca X said in a press release.
Benefito Mobile intends to launch a prepaid card for mobile telecommunications services which users can refill when purchasing products and services from partner companies.
"Our investment promises a very good return with accelerated growth: the business model aims to achieve a break-even point 12 months after the commercial launch at only 35,000 users, and a return on investment after only two years in the context of already having strategic partnerships such as CashBackWorld or BonusWay," ROCA X CEO Alexandru Bogdan said.
For 2021, the founders of Benefito Mobile estimate approximately 37,000 users and a turnover of 700,000 euro. They also estimate that the business will become profitable after a year, and in five years they expect a turnover of 15 million euro.
"In Western Europe, virtual mobile operators are important players. We have believed for many years that the services provided by virtual mobile operators can boost the telecom field in Romania and the fact that ROCA X chose to join us makes us have more confidence in our success," Benefito Mobile co-founder Marian Velicu said.
According to ROCA X, Romania's virtual mobile operators market is very underdeveloped, while in different countries between 10% and 40% of the mobile market is held by such operators, in particular retailers such as Tesco Mobile, Lidl Mobile, Carrefour Mobile and Kaufland Mobile. Overall, in the EU, virtual mobile operators have a market share of approximately 10%.
ROCA X, founded in 2019, is part of Impetum Group, together with CITR and ROCA.
Benefito Mobile was founded in 2018 by telecommunications specialists Marian Velicu and Marius Ionescu.
($=0.8975 euro)