Via Business Insider: Sonetel, founded 2012, has grown more than 2.000% over the last four years, and is thereby Sweden’s eigth fastest growing tech company, according to Deloitte Sweden Technology Fast 50. During February, the company is issuing a public offering to raise EUR 2,5 million, and will be listed on Nasdaq First North as of March. The subscription period will end February 22, and the price is set to SEK 26,9 per share. Sonetel has already secured subscription commitments and underwriting to cover the whole offering. Sonetel’s growth has been explosive – but it’s not profitable yet. In its short existence the company has already built a customer base of around 650.000 clients in more than 239 countries. 90,000 of these are paying customers. The service is predominantly free, but allows clients to pay for additional premium functions. The annual revenue has reached SEK 25 billion, but despite its explosive growth Sonetel has not reported profits for any year so far. In conjunction with the rights issue Sonetel writes that profitibility is expected to be reached soon, but that the capital injection is needed to get there. Amongst other things, the capital is to be invested in improving implimentation of AI tech. Sonetel provides a cheap service that everyone needs. Sonetel’s typical clients are small businesses with international orientations, operating mostly within e-commerce, IT services and marketing. Sonetel provides a business communication service which makes it possible for businesses to have a local phone number anywhere. In other words, Sonetel’s small business clients can display a phone number which is from the same country as their customers, anywhere in the world. For Sonetel’s clients this boosts sales by increasing their customers’ confidence. Calls to the local number are forwarded globally but only accrue the cost of a local call. Sonetel’s service also supports free conference and business calls across the world. ”Half of the world’s working population work in small businesses. A large share of these already have access to cellular phones and the internet. Most of them lack money, time and technical skills – but almost all of them want to increase their sales”, Sonetel CEO and founder Henrik Thomé says.