Lyca Mobile to invest £250 million over the next three years as it REPOSITIONS TO target major growth
London – UK-based Lyca Mobile, the world’s largest MVNO and part of the multinational Lyca Group, has announced it is making a £250 million investment over the next three years to take its value-based services to a wider audience.
The investment will build on Lyca Mobile’s heritage as a low-cost international calling network and transform it into a digital service provider delivering diverse, multimedia experiences that put changing consumer expectations first. By developing a new set of differentiated products, content and services, Lyca Mobile aims to grow its appeal across a wider cross-section of mobile subscribers as it targets major growth in the UK and international mobile markets.
The £250 million investment will fund:
- A state-of-the-art technology platform – the creation of an industry-leading digital infrastructure that will underpin the development of a new set of bespoke products for consumers in the UK and beyond. In collaboration with IBM and SAP, Lyca Mobile is transforming its systems and developing a commerce cloud to enhance service delivery
- Content partnerships – collaborations with globally renowned consumer-focused media platforms
- Continued expansion in international markets – including significant investment in developing a 4G network in Uganda, and expanding its MVNO operations in key markets across Asia and Latin America
The investment also includes a new brand identity that reflects a fresh, modern look that will appeal to a wider group of customers and align more closely with the brand’s digital-first approach to its growth. Designed by Clear M&C Saatchi, the new brand design (which will also be rolled out across the Lyca Group companies) will be supported by a £25 million multi-channel advertising campaign running across TV, radio, out of home, digital and in-store activity.
“This investment is testament to our commitment to transform the business and take our services to a wider audience. Covid-19 has expedited the emergence of a new set of consumer mobile behaviours and values. Customers expect more diverse, differentiated and value-added services – and there’s a real opportunity for us to deliver exactly that as we look to grow our market share in the UK and beyond,” said Lyca Group CEO Navanit Narayan. “Our ambition will help us attract new customers and further demonstrate the benefits of partnering with Lyca Mobile to global mobile network operators. We are also proud that, as a UK-based multinational, we are in a position to inject such significant investment into the economy.”
The £250 million investment in Lyca Mobile comes on top of £200 million+ investment across the Lyca Group companies, which include healthcare, finance, travel and entertainment businesses.
Founder and Chairman of the Lyca Group, Subaskaran Allirajah, commented: “This is an exciting time for Lyca Mobile and the Lyca Group as a whole, as we fuel our growth across existing and new territories. Lyca Mobile was built on the fundamental need to stay in touch with the people we love and has always provided excellent value for its customers. We look forward to welcoming new users to the Lyca family as we evolve those founding principles across innovative products and services that connect customers to everything that is important in their world.”
As a first step in delivering its customer-first vision, Lyca Mobile has also announced an aggressive new product that delivers real value to users.
Customers in the UK will now be able to buy 50GB of data, unlimited calls and texts, and 100 international minutes at just £12 for 30 days. They will also benefit from being able to share their data with friends and family. This feature will allow any user to gift part of their allowance to other Lyca Mobile users – a shift that will give customers a new level of flexibility to get the most out of their tariffs in the way that works best for them and their nearest and dearest.
NOTES TO EDITORS
About Lyca Mobile
Lyca Mobile is the world’s largest mobile virtual network operator, operating in 23 countries across five continents – including the UK, USA and large parts of Europe. It is the market leader in the international prepaid mobile calls market, with over 16 million customers worldwide and a new one joining every two seconds.
Best known for keeping customers connected to loved ones both nationally and internationally at the lowest possible price, Lyca Mobile was named the ‘Most Successful MVNO’ of 2020 at the MVNOs World Congress and maintains a score of 4.6* on Trustpilot.
Lyca Mobile is part of Lyca Group, a British multinational corporation delivering low-cost, high-quality products and services to communities across the globe. Since Lyca Mobile’s founding in 2006, a number of additional products and services have been added to Lyca Group’s portfolio, diversifying its offering across Telecommunications, Entertainment, Travel and Tourism, Healthcare, Media, Technology, Financial Services, Marketing and Hospitality.
Find out more at www.LycaMobile.com.
Phone number: 07989176524