Funmobile, a three-year-old mobile value-added service provider, is seeking to raise funds in the market for expansion, according to its chief executive.
Christian K.L. Yau Heilesen has expanded the firm to more than 100 employees since establishing it with five staff four years ago and expects to double the team this year.
'As our business has grown, various bankers have approached us and persuaded us to raise funds in the market,' he said last week.
Funmobile, whose main markets are the US and Europe, sells mobile games, ringtones and wallpaper downloads. It also markets mobile software development, a messaging platform and other management services to mobile operators.
The company, which has partnerships with 40 mobile carriers in the US, Europe and Asia, is considering entering China and India.
'We are more conservative about entering these emerging markets,' said Mr Heilesen. 'We need to stick with a local partner.'
Funmobile is also looking for a partner in Japan.
