IQSTEL Inc. closes a $3 million financing round for its acquisition of a 51% interest in Ultranet Telecom Group. This funding is expected to enhance cash flow and profitability in West Africa.
Amount Raised
$3 Million
Round Type
Debt Financing
Description
IQSTEL Inc. has closed the first tranche of financing for its acquisition of a controlling interest in Ultranet. The financing includes two-year senior secured, non-convertible promissory notes up to $3 million. This strategic move aims to strengthen IQSTEL's presence in the profitable West African telecom market
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