PC Capital Development Fund II, L.P. completed an investment in ISLIM Telco, S.A.P.I. de C.V. (“Netwey”), a leader Mexican Internet Service Provider that is helping bridge the digital divide by providing affordable internet service to low-income families. Netwey offers flexible prepaid plans to their users, allowing them to choose between weekly or monthly top-ups.
According to INEGI, more than 80% of Mexican households with no Internet access belong to low socioeconomic levels. Netwey developed an ad-hoc value proposition that meets the needs and buying behavior of such communities
Netwey’s revenues have increased on a CAGR of around 400% since the beginning of operations of the Company in 2018, and PC Capital investment will help Netwey build its own telecommunications infrastructure to continue its rapid expansion
Regarding the investment, Hernan Ozon, CEO of Netwey, stated: “PC Capital’s entry into Netwey will allow us to accelerate our deployment plans, thus enabling us to bring fairly priced, high quality FTTH internet to low-income populations.”
“We are humbled to have partnered with such a talented and committed management team. The growth that Netwey has experienced is proof of the uniqueness of its services and the bridge that they are building to provide internet and mobile phone access to the base of the pyramid at affordable prices and in a convenient way at a pace that no other competitor has achieved in Mexico. As a social impact investor, we are excited to be part of the Netwey story and continue to bridge the digital divide with them in the years to come.” said Pablo Coballasi and Gabriel Araujo, Managing Directors of PC Capital.
Founded in 2018, Netwey is a Mexican wireless internet provider focused on facilitating access to households belonging to the base of the pyramid. Netwey offers flexible prepayment plans to their users, giving them the chance to make weekly or monthly top-ups.
Learn more at netwey.com (https://secure.netwey.com.mx/site/)
About PC Capital
Founded in 2008, PC Capital is a private equity and investment banking firm based in Mexico City that currently manages private equity vehicles focused on high social impact in Latin America. Since its founding 12 years ago, PC Capital has successfully invested in the education, sustainability, food, and financial sectors. PC Capital is a member firm of the Mexican Association of Private Capital (“AMEXCAP”) and the Latin American Venture Capital Association (“LAVCA”).
Learn more at pc-capital.com (http://pc-capital.com)