Enex Backs Vopium

Vopium AS, a Copenhagen-based provider of mobile telecom services for Europeans making international calls, has raised around EUR 4.2 million in VC funding from Enex Group.


Vopium A/S has closed a venture capital financing agreement of EUR 4.2 million – approx. DKK 32 million – from the Luxembourg-based investment company Enex Group SA. Thereby Vopium has secured the necessary capital for its European expansion. In a short time, Vopium will be ready to deliver telephony to Europeans wanting to save money on their international calls.

Vopium is a powerful software program for your mobile telephone which makes it possible to make international calls using your mobile at prices that are 50-90 per cent lower than the prices of major mobile service providers. It only takes a few moments to download and install Vopium on your mobile phone, either over the internet at Vopium.com or by text message. International calls and texts are then sent via Vopium's gateways and international telecom companies to receivers abroad. Vopium works on more than 500 different mobile handsets supporting Symbian, Windows Mobile, Java and Blackberry.

With Vopium, callers pay Vopium's low international rates plus their normal mobile service provider's local per-minute rate. Once Vopium is installed on your mobile phone, you can decide whether you want to use Vopium or your normal mobile provider for international calls. It is the simplicity of the concept and the obvious possibilities for international expansion that have convinced the Enex Group of Vopium's potential.

“Vopium has a unique, well-designed and functional product which holds considerable international potential. The company has already demonstrated that it has what it takes to develop an outstanding product that gives the user easy access to cheap international telephony without having to switch provider or change SIM card. Vopium aims to be the sole longdistance provider of its customers. All that's required now is to expand, so many more people can enjoy the benefits of using Vopium,” says Christian Eyde Moller, Chairman of the Board of Vopium.

Enex Group SA is a private investment company based in Luxembourg. The remaining capital of the company is owned by Vopium's original founders, the Company's management and a number of minority shareholders. Vopium intends to list its shares on a European stock exchange.

“We are delighted with Enex's investment. It enables us to launch Vopium throughout most of Europe, giving Europeans the possibility of saving as much as 90 per cent on international mobile calls – and it also enables us to pursue our vision of making international calls free for all Vopium users. During the past year we have tested Vopium in the Scandinavian market, and we are convinced we have a world-class product,” says Tanveer Sharif, Vopium's CEO and co-founder.

Tanveer Sharif started Vopium together with partners in 2006 and the beta version of Vopium was launched in May 2007 after less than two years of development work. The development of a world class customer friendly software solution for all mobile handsets became a reality in record time thanks to help from skilled engineers and software developers in Pakistan, where Vopium has a 30-strong development team.

“Six months ago we set out to secure the necessary funding for Vopiums growth and now we have succeeded. We are now ready to boost marketing activities in Vopium and quickly launch the company in other European countries and harvest the “economies of scale” benefits. The company's expansion is by no means limited to the European market – on the contrary, there is just as much need for Vopium in Asia and the US,” says Christian Eyde Moller.

Further information about Vopium can be found at http://www.vopium.com/press where you ca n also find press photos for free use by the media (please state source).