Mobilicity announced today that it has raised $215 million through a debt offering through National Bank Financial and GMP Securities. The offering represents one of the largest capital raises for an emerging telecommunications carrier in Canada in recent years, and will provide Mobilicity with growth capital to further strengthen its customer experience across Canada.
Today’s announcemnt is two weeks shy of the first anniversary of Mobility’s Toronto launch and on the heels of their launch in Calgary yesterday.
Earlier this week we reported that the number of wireless telephone subscribers in Canada increased by 7.4% during 2010. According to the Canadian Wireless Telecommunications Association (CWTA) there were 24,567,947 wireless subscribers in this country at the end of 2010, up from 22,876,547 at the end of 2009.
Unfortunately for Mobilicity and the other upstarts, the Big Three still account for 95% of all Canadian subscribers. Mobilicity doesn’t report their subscriber numbers.