Virgin Mobile on Tuesday said it will launch telecom services in Turkey.
The introduction of Virgin Mobile’s telecom services in Turkey will be funded by €40 million equity capital funding round supported by CEE Mobile Capital, Delta Partners Emerging Markets TMT Growth Fund II, European Bank for Reconstruction and Development and International Finance Corporation.
A part of the fund will also be utilized for further growth in the existing Virgin Mobile operations in Poland and to fund the development of future expansion opportunities in the Central and Eastern Europe region, said Virgin Mobile.
The other shareholders include Richard Branson’s Virgin Group, ePlanet Ventures, Archimedia and Dirlango.
Virgin Mobile brand will be available in Turkey in 2015.
Alan Gow, CEO of VMCEE BV, said: “Virgin Mobile is excited by the growth opportunities in Poland, Turkey and across the CEE region. With the support of our new shareholders, we look forward to accelerating our growth in Poland and building the CEE region’s leading MVNO operation.”