Route Mobile raises Rs 867.4 crore through QIP

CPaaS (Communication Platform as a Service) provider Route Mobile Limited today announced to have successfully raised Rs 867.4 crore via Qualified Institutional Placement (QIP).

Route Mobile Limited is a cloud communications platform service provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO).

The QIP saw interest from a mix of international and domestic investors. Existing as well as new shareholders participated in the QIP and some of the largest investors in the QIP includes Steadview Capital Mauritius Limited, RBC Asia Pacific Ex-Japan Equity Fund, Kuber India Fund, HSBC Global Investment Funds - Asia Ex Japan Equity Smaller Companies, Societe Generale - ODI, Verdipapirfondet DNB Global Emerging Markets, Pinebridge Global Funds - Pinebridge Asia Ex Japan Small Cap Equity Fund, Pinebridge Global Funds - Pinebridge India Equity Fund.

Route Mobile MD and CEO Rajdipkumar Gupta said the company is delighted with the participation of the new investors who came onboard and the continuing support of its existing investors.

He said Route Mobile has also closed the acquisition of Masivian SAS, Colombia, which is now a step-down wholly-owned subsidiary of Route Mobile Limited. The company acquired Masivian for the total consideration of $49.04 million. Masivian will help it grow in Latin America and strengthen its presence in the region.

Headquartered in Mumbai, RML's portfolio comprises solutions in messaging, voice, email, SMS filtering, analytics and monetisation. RML has a diverse enterprise client base across a broad range of industries, including social media companies, banks and financial institutions, e-commerce entities and travel aggregators.

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