Zolve Unveils Its Own Branded Mobile Phone Plan Service For US Immigrants

Zolve, a neobank targeting immigrants to the United States, has announced a partnership deal with Gigs. The partnership seeks to support the creation of its branded mobile phone plan service. Zolve offers a wide range of services to immigrants in the United States.

Zolve to give immigrant customers mobile phone plans

The Zolve app allows immigrants to the US to open a bank account that the Federal Deposit Insurance Corporation insures. It also enables these persons to access a high-limit credit card.

Following the partnership with Gigs, Zolve will enable customers to activate phone plans within the Zolve app in just a few clicks. Customers will bypass the lengthy process of sharing details such as credit cards, addresses, and social security numbers. New arrivals to the US usually have a challenging time accessing these requirements.

The firm has also said that offering financial services and a phone plan will give expats access to two critical needs from the same app. The offering guarantees that the immigrants have an easy start to life in the US.

Zolve also claims to be the first fintech globally to launch a mobile virtual operating network. The network seeks to give immigrants access to two essential needs addressed from the same app. The offering ensures that these persons can easily start life in the US.

The company also boasts of being the first fintech globally to release a mobile virtual operating network. It allows customers to have better engagement while also promoting brand loyalty. These unique offerings enable the company to generate recurring revenue.

The partnership deal between Zolve and Gigs comes after the latter appointed Rafael Plantier as the head of financial services to attract new business from fintechs. Plantier is a financial service and fintech veteran, having worked with Stripe and Nubank.

The CEO of Zolve, Raghunandan, commented on the development saying that expats looking for access to financial services or a SIM card in the US had often faced challenges that would now be over because of the new solution provided by Zolve.

“For expats seeking access to financial services or a SIM card in the US, the process has traditionally been time-consuming, complicated, and overwhelming. However, by enriching our suite of financial products with our own phone plan, we can significantly simplify the lives of the international community and transform the Zolve app into a launch pad for global ambitions,” the executive said.

Zolve’s market growth

Zolve is a neobanking platform that targets US immigrants by allowing them to access fully insured US bank accounts, credit cards, and debit cards without needing a social security number. The company claims that opening an account takes below 10 minutes.

In October 20, Zolve closed a funding round where it raised $40 million to help it roll out its offerings. The company closed the Series A funding round at a valuation of $210 million.