EZ Telecom secures a new €1,000,000 funding round led by Faraday and Fondo Bolsa Social

With this round, the Spanish telco aims to accelerate its growth and enhance connectivity in rural regions.

The Spanish telco EZ Easy Telecom (Likes Telecom and EZ Telecom), specializing in white-label mobile and fibre distribution solutions for operators and local distributors, particularly in rural areas of Spain, has closed its second funding round through a €1,000,000 capital increase to scale its growth in the distribution market and improve connectivity in rural areas. In early 2024, it successfully completed its first €500,000 funding round, thereby increasing its total capital to €1.5 million.

EZ Easy Telecom operates under the Likes Telecom brand, offering an advanced technological platform that uses cloud-based Artificial Intelligence (AI) under a B2B2C model, enabling the rapid creation of white-label brands for its local distributors through a single platform. The company currently has over 300 local distributors and provides 15,000 services.

In this funding round, EZ Easy Telecom has secured a reinvestment of €500,000 from Faraday Venture Partners, bringing its total investment in the company to €1M. Fondo Bolsa Social, a fund specializing in socially impactful projects, has also joined as an investor, contributing €500,000 to this round.

EZ Easy Telecom began its operations in 2023, led by its co-founders Ángel Sánchez García, Alberto Suárez Liaño, and Javier López Jimeno, who bring extensive experience in the telecommunications, IT, and commercial sectors.

Ángel Sánchez García, CEO of Likes Telecom, commented: “We are grateful to Faraday Venture Partners and Fondo Bolsa Social for their trust in EZ’s vision. This new investment provides us with the opportunity to continue developing our innovative telecommunications solutions, expanding our reach into new rural areas by leveraging cutting-edge technology and AI in all our products and processes. Our commitment is to deliver quality services in rural areas and facilitate the commercialization of telco and related services in regions facing digital divides in Spain, where we see a significant gap in real connectivity for users. We are dedicated to using technology to drive economic and social development in these areas, and we look forward to continuing to work with Faraday Venture Partners and Fondo Bolsa Social to achieve our shared goals.”

Gonzalo Tradacete, CEO and Founder of Faraday, added: “Since its founding, EZ Easy Telecom has demonstrated strong growth and impressive innovation within its sector. We are thrilled to support EZ in this new phase, alongside new investors, in a market and with a strategy that has the potential to make a real difference.”

José Moncada, Managing Partner of Fondo Bolsa Social, stated: “In rural Spain, over 1 million households lack access to a quality internet connection. At Fondo Bolsa Social, we are investing in EZ Telecom because it effectively and sustainably addresses this critical gap. We firmly believe that improved connectivity in rural areas will foster economic development, job creation, access to education and healthcare services, enhanced social interaction, and help combat depopulation, particularly in areas of Spain’s ‘emptied’ regions.”

Sources in media: Europa Press, El Referente, Capital Riesgo, Webcapitalriesgo, Silicon Canals