Wednesday 15 September 2021 12:01 am

Lyca Mobile to invest £250m to grow in UK and beyond

The largest Mobile Virtual Network Operator in the world has announced plans to invest £250m over the next three years to grow internationally and revamp its image.

Lyca Mobile, part of the multinational Lyca Group, hopes the investment will pay off by helping the company, which began as an affordable international calling network, become a more digital service provider.

In a statement the UK-based company said one of its targets is “major growth” in the UK as well as other mobile markets around the world, including Asia and Latin America .

Creating a state-of-the-art technology platform to develop new products, giving its brand a face-lift – designed by Clear M&C Saatchi – and a running a £25m advertising campaign across are some of the areas the newly announced investment will fund.

The new brand design, Lyca Mobile said, will give the company a “fresh, modern look that will appeal to a wider group of customers”.

“Covid-19 has expedited the emergence of a new set of consumer mobile behaviours and values,” said Lyca Group CEO Navanit Narayan.

“Customers expect more diverse, differentiated and value-added services,” he continued “and there’s a real opportunity for us to deliver exactly that as we look to grow our market share in the UK and beyond.”

The new investment of a quarter of a billion pounds is on top of a £200m investment across a range of Lyca Group companies covering healthcare, finance and entertainment businesses.