Africazine:
Mission Mobile is set to enhance smartphone access in South Africa with new funding.
The Johannesburg-based mobile technology company has secured ZAR 500 M (USD 30.77 M) from DN Invest to expand its smartphone financing model through mobile network operator retail outlets. This funding aims to improve connectivity for customers who lack access to traditional credit options.
Mission Mobile’s Innovative Financing Model
Founded in 2023 by brothers Tim and Adam Strike, Mission Mobile is focused on providing smartphone financing solutions. The company leverages its Beam platform, which evaluates consumers based on alternative data related to their earnings and spending habits. This approach allows Mission Mobile to cater to customers who are often overlooked by conventional credit systems.
In addition to financing, Mission Mobile’s DataBack Device proposition offers customers financed smartphones along with connectivity benefits. This dual offering aims to enhance the overall customer experience by combining device access with essential mobile services.
South Africa: Key figures on smartphone financing
- ZAR 500 M (USD 30.77 M) in growth capital
Funding to Drive Customer Reach
The investment from DN Invest will enable Mission Mobile to broaden its customer base and introduce new offerings for mobile network operators. By utilizing the funding, the company plans to enhance its onboarding processes, device delivery, payments, data fulfillment, and customer service capabilities.
Next Steps for Mission Mobile
- Expand smartphone financing model through MNO retail outlets
- Enhance customer onboarding and service processes
- Introduce new propositions for network operators
Mission Mobile is poised to transform smartphone access for underserved customers in South Africa.
