Telegram raises $210 mn via bond sales amid fund crunch

NEW DELHI: Encrypted messaging platform Telegram has raised $210 million from investors through a bond sale. Investors include its founder-CEO Pavel Durov. Telegram is still not profitable amid the economic downturn.

John Hyman, Telegram’s chief investment advisor, has said the platform raised the capital by issuing a $270 million bond. Interest rates have risen significantly since 2021, the bond has a different issue price.

According to Durov, “a group of well-known funds bought bonds.”

Durov said he personally bought about a quarter of Telegram’s new bonds, and invested millions in Telegram’s development.

Telegram Messenger is one of the top-5 most downloaded apps in the world. In the summer of 2022, it has crossed 700 million monthly active users. The company is based in Dubai.