Circles.Life is the new telco challenger startup in Asia. Securing several rounds of funding from Sequoia Capital, Singapore’s EDBI, Silicon Valley’s Founders Fund, and Warburg Pincus for its fully-digital technology and business model innovation, it offers cloud-based telecommunications services around simplified data-focused plans, a simple onboarding process, and easy-to-use mobile app.

By late 2014, Easypaisa, a mobile financial service (MFS) that enabled financial transactions through a mobile phone, had 54% of the MFS market, and was a leader in both over-the-counter (57%) and mobile accounts (75%). However, its OTC market share had dropped precipitously from 88% in the first quarter of 2013 to 62% by the end of 2014.