MyRepublic’s TelcoTech platform attracts US$60mil in new investment
By Digital News Asia June 5, 2018
- Plans for a future IPO in Hong Kong in 18-24 months’ time
- Identified opportunities to enter markets beyond traditional telco services
REGIONAL TelcoTech player MyRepublic announced an investment of US$60 million (RM238.5 million) from CLSA Capital Partners, the asset management business of CLSA, Asia’s leading capital markets and investment group, and Kamet Capital Partners, a Singapore family office.
As a telecommunications company powered by a proprietary cloud platform, the investment will accelerate the development of MyRepublic’s TelcoTech platform as it prepares to launch new services across the region and plans for a future IPO in Hong Kong in 18-24 months’ time.
The emergence of TelcoTech (telecom technology) has levelled the playing field for a new breed of telco operator – cloud-based, infrastructure-lean platforms which are focused on building digital infrastructure and access paths particularly crucial for Asia’s emerging markets.
MyRepublic CEO Malcolm Rodrigues comments: “This investment is a milestone along our path to a public listing and it is the advice and guidance provided by CLSA Capital Partners that has led us to this point. We are excited to have their support and we look forward to continuing our relationship as we work towards taking MyRepublic public.”
MyRepublic currently has operations across Singapore, Indonesia, New Zealand and Australia and is set to expand further into the region.
Attracted by the company’s compelling growth and innovative business model, CLSA Singapore country head Andrew Hartley comments: “In MyRepublic we have identified one of the region’s most disruptive TMT companies. As the company expands its broadband and mobile platforms across Asia, we believe it’s uniquely positioned to take advantage of the digital transformation accelerating the telco sector. We are pleased to have led this investment through our asset management business, CLSA Capital Partners, and we look forward to continuing our relationship with MyRepublic,” Hartley said.
Unlike telcos burdened with legacy infrastructure and traditional operational mindsets, MyRepublic operates using its own proprietary TelcoTech platform, allowing it to automate much of a telco’s end-to-end service operations, lowering costs and increasing agility. It is this cloud-based TelcoTech platform that has enabled MyRepublic to quickly enter new markets, launch new services simultaneously across multiple countries, and operate regionally using a single platform.
As MyRepublic prepares to launch new telecommunications services across the region, including mobile and TV, additional opportunities continue to arise for its proprietary platform to further monetise its customer base in other sectors as well.
With various industries in the region undergoing digital transformation and deregulation, the company has identified opportunities to enter markets beyond traditional telco services, including the energy, insurance and big data sectors.
MyRepublic’s TelcoTech platform brings to life its vision of connecting people to things that they love with a simple, easy and differentiated customer experience. The company has a strong track record of growth, with revenue doubling annually for the past five years. This latest investment brings MyRepublic’s total raised capital to US$150 million (RM596.24 million).