Qatar’s first independent venture capital firm, Rasmal Ventures, has led a $12 million Series A funding round for Roamless, a global provider of borderless eSIM technology. This strategic investment underscores Rasmal’s growing influence in the regional VC ecosystem and its commitment to backing high-growth, scalable technologies with strong cross-border potential. The round also saw participation from key regional heavyweights, including the UAE’s Shorooq Partners and Saudi Arabia’s JIMCO, alongside Turkish investors Revo Capital and Finberg.
Bridging MENA Capital with Global Tech
By leading this round, Rasmal Ventures is positioning itself as a key conduit between MENA capital and global innovation. While Roamless is headquartered in the US and founded in Türkiye, the strong backing from Qatari, Saudi, and Emirati investors highlights the Middle East’s increasing role in fueling the next generation of travel technology. The deal brings Roamless’ total funding to $18 million and reflects a shared vision among regional investors to support infrastructure-heavy solutions that solve tangible problems for global travelers.
Investing in a “One-SIM” Future
Rasmal’s investment is a vote of confidence in Roamless’ unique approach to the crowded eSIM market. Unlike competitors that operate on a resale model, Roamless has built its own cloud-based telecom stack, allowing it to offer a single global eSIM that works in over 200 countries. This infrastructure-first play aligns with Rasmal’s thesis of backing companies with defensible technology moats. The platform’s “pay-as-you-go” model, which eliminates expiring data plans, addresses a major pain point for travelers and corporate clients alike.
Fueling B2B and Product Expansion
The capital injection will enable Roamless to significantly expand its product roadmap, a move fully supported by its new board of investors. Key initiatives include the launch of “Roamless Numbers,” which will provide users with local phone numbers for voice and text in over 20 countries. Furthermore, the company plans to deepen its B2B footprint by offering APIs to airlines, banks, and travel agencies, embedding connectivity directly into third-party apps—a strategy that offers Rasmal and its co-investors potential synergies with their broader portfolios in the region.
About Roamless
Roamless is a global mobile connectivity provider founded in Türkiye and headquartered in the United States. Established in 2023, the company offers a seamless, borderless digital mobile experience through its proprietary cloud-based eSIM platform. By eliminating roaming charges and physical SIM cards, Roamless empowers travelers with pay-as-you-go data and voice services in over 200 countries. The company serves over one million travelers and is backed by leading venture capital firms including Rasmal Ventures and Shorooq Partners.
Source: Tech.eu
