Truphone congratulates itself for clearing overdraft

Truphone has raised £255 million in funding through a successful rights issue to clean the slate and launch an assault on the burgeoning world of IoT.
The company has said the majority of the cash will be used to wipe out £239 million debt accumulated over the last couple of years as the team pushed into new markets. Most of this overdraft was built up during the development of what Truphone describes as a ‘fully globalised mobile connectivity platform’.
“As a resul