Truely, a Singapore-based traveltech startup that operates the Switchless eSIM platform, has announced raising $2 million in additional funding.
The latest funding round, which brings its total capital raised to $5.5 million, was backed by DG Daiwa Ventures, Goodwater Capital, and Disrupt.com. Existing investor Beenext also participated in the round.
The fresh capital comes less than eight months after Truely closed a $3.5-million round in October 2024. The startup said it will use the funding to support product development, network expansion, and the introduction of new enterprise tools.
Based in Singapore, Truely aims to simplify global connectivity by eliminating the need for frequent eSIM reinstallation.
The company is now scaling B2B2C partnerships with online travel agencies, airlines, and fintech super-apps to embed its eSIM capabilities into third-party platforms.
“As a frequent traveller myself, I truly feel like I’m building my dream product… we have a lot planned and we’re going to keep executing,” said Simon Landsheer, co-founder and CEO of Truely.
The participation of Japanese venture capital firm DG Daiwa Ventures gives Truely access to Japanese distribution channels and corporate partnerships, particularly in East Asia’s outbound travel corridor.
“We see significant potential in tackling the growing inbound travel to Japan and partnering with Japanese corporates to drive further expansion,” DG Daiwa’s Makoto Ibi and Yuma Nishikawa said in a joint statement.
In 2025, the global travel and tourism market is projected to reach new heights, with international visitor spending expected to exceed $2.1 trillion, surpassing pre-pandemic levels, according to Statista.
Truely’s latest funding round followed the S$7.5 million funding that another Singapore startup, Firsty, raised to expand its global data access platform across Asia.
Firsty runs a global freemium telecom network that provides free mobile data access in over 160 countries. Powered by a single eSIM and a network of international carrier partners, the Firsty app seamlessly connects users to the strongest available networks—whether on land, at sea, or in the air.
