SurgePays

What SurgePays does

SurgePays is a publicly traded (NASDAQ: SURG) technology and fintech company headquartered in Bartlett, Tennessee, that operates a vertically integrated platform serving underbanked and underserved U.S. consumers and the independent retailers who serve them. The company's core infrastructure is HERO, a full-stack Mobile Virtual Network Enabler (MVNE) platform powered by a strategic AT&T agreement that provides SIM provisioning, billing, CRM, fulfillment, and customer service for third-party MVNOs. On top of this infrastructure, SurgePays operates multiple product verticals: LinkUp Mobile (prepaid wireless with plans ranging $10–$50/month distributed through 9,000+ retail partners), Torch Wireless (Lifeline-subsidized connectivity for low-income households), ClearLine POS (acquired January 2024 for $2.5 million, providing point-of-sale SaaS for wireless retailers), Managed Marketing Services (in-store digital engagement via smart TVs and POS terminals), a Stored Value and Loyalty Platform (white-label gift cards and loyalty programs), and ProgramBenefits.com (an AI-powered consumer intake platform adding 1,000+ qualified consumers daily targeting the 138 million U.S. subprime consumer market).

The company generates revenue through multiple streams: recurring MVNO wireless subscriber revenue (86% of 2023 operating revenue), high-margin MVNE per-click platform fees from white-label partners, transaction fees from prepaid wireless top-ups and gift card activations across convenience stores, SaaS subscriptions for Managed Marketing Services and ClearLine POS, advertising revenue from third-party campaigns on in-store screens, and emerging data monetization through the Growth Marketing and Data Partnerships Division. Full-year 2025 revenue was approximately $57 million (down from $60.9 million in 2024 due to Affordable Connectivity Program expiration), with Q1 2026 revenue of $16 million representing 51% year-over-year growth. The company has reduced G&A expenses by 28% year-over-year (from $27.5 million to $20.1 million in 2025) and targets monthly cash burn of $250,000–$300,000 by end of Q1 2026, with stated objective of reaching cash flow positive by end of 2026. Leadership is led by CEO Brian Cox (telecom entrepreneur since 2004), with Derron Winfrey as President of Sales & Operations; Chelsea Pullano was appointed interim CFO in January 2026 via outsourced MACK Financial Solutions agreement.

Name

SurgePays

Legal name

Surge Holdings, Inc.

Website

https://surgepays.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

SurgePays is a publicly traded fintech and wireless technology company operating a vertically integrated MVNE platform, prepaid wireless brands (LinkUp Mobile, Torch Wireless), POS software, and AI-powered consumer monetization targeting underbanked U.S. consumers through 9,000+ retail partners.

Ownership category

akta.pro rank

Product category

Wireless Telecommunications and Fintech Services

NAICS

Telecommunications Resellers (517121)

akta.pro primary industry

Consumer Mobile Network Operators (Retail MNOs) (HDAIAAAA)

akta.pro secondary industry

Mobile Virtual Network Enablers & Full MVNO Operators (HDAIAAAC)

Keywords

• MVNO wireless services
• MVNE platform infrastructure
• Prepaid mobile plans
• Retail POS software
• Fintech mobile wallet

Headquarters

HQ city

Tennessee

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Prepaid Wireless Services: MVNO wireless services generating recurring subscriber revenue through prepaid plans. Includes LinkUp Mobile brand (no-contract prepaid wireless) and Torch Wireless (Lifeline-subsidized connectivity). Revenue from SIM kit sales, monthly plan subscriptions, and airtime recharges. 86% of 2023 operating revenue came from MVNO communications business.
2. HERO MVNE Platform Services: White-label MVNE platform licensing infrastructure (SIM provisioning, billing, CRM, fulfillment) to third-party MVNOs. High-margin per-click scalable model. Three partners launched with two more in pipeline, serving hundreds of thousands of subscribers.
3. Managed Marketing Services: SaaS revenue from digital advertising displayed on in-store smart TVs and POS terminals. Generates recurring revenue from third-party advertisers while supporting customer acquisition for wireless services.
4. Prepaid Wireless Top-ups and POS: Transaction revenue from convenience stores handling top-ups for all major wireless brands. Also includes debit and gift card activations. Creates customer insights for targeted promotions and upsell opportunities.
5. Fintech Solutions: Revenue from financial services integration including Alpha Cash wallet partnership (pilot of 25,000 device activations with revenue sharing). Stored value and loyalty platform fees from merchant partners.
6. Growth Marketing and Data Partnerships: High-margin revenue from monetizing consumer data ecosystem through targeted marketing, analytics, and data partnerships. Routes 10,000+ new leads daily through ProgramBenefits platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

SurgePays operates a vertically integrated wireless and fintech platform that delivers prepaid mobile services through its own MVNO brands (LinkUp Mobile, Torch Wireless, USASNAP.com) and licenses its HERO MVNE platform to third-party MVNOs. The company also distributes ClearLine point-of-sale software, Managed Marketing Services, a stored value and loyalty platform, and the ProgramBenefits.com consumer intake platform through a 9,000+ convenience store retail partner network. Revenue is generated from MVNO communications (86% of 2023 operating revenue), MVNE per-click licensing, POS transaction fees, SaaS subscriptions, advertising, and data monetization.

Product overview

SurgePays is a technology-driven Wireless and FinTech company structured as a platform-plus-modules architecture. Its core infrastructure consists of HERO, a full-stack MVNE platform powered by AT&T that enables SIM provisioning, billing, and MVNO launches. On top of HERO, the company operates multiple product verticals: (1) LinkUp Mobile — a prepaid wireless sub-brand with contract-free plans distributed through 9,000+ retail partners; (2) Torch Wireless — a Lifeline-focused MVNO serving subsidized connectivity to low-income households; (3) ClearLine POS — an acquired point-of-sale SaaS platform for wireless retailers supporting top-ups, activations, and payment processing; (4) Managed Marketing Services — a digital engagement platform converting POS terminals into interactive marketing, loyalty, and advertising tools; (5) Stored Value and Loyalty Platform — a white-label gift card and loyalty program system embedded in the POS; (6) ProgramBenefits.com — an AI-powered consumer intake and monetization platform converting benefit-qualified consumers into revenue across wireless, fintech, and financial services; and (7) SurgePay Africa — a cross-border payments platform using Stellar blockchain. The company generates revenue through a combination of MVNE per-click fees, wireless subscriber plans, POS transaction fees, SaaS subscriptions, marketing ad revenue, and data monetization.

Differentiator

Problem solved

Functional benefit

Brands

• LinkUp Mobile: Prepaid wireless brand offering contract-free, affordable service with no credit checks or hidden fees, distributed through nationwide retail network
• Torch Wireless
• HERO
• Managed Marketing Services

Products and services

• HERO (MVNE Platform) Full-stack Mobile Virtual Network Enabler platform providing carrier-grade infrastructure including SIM provisioning, billing, CRM, fulfillment, and customer service. Powered by a strategic agreement with AT&T, enabling third-party MVNOs and adjacent industries to launch wireless services without direct carrier relationships. Operates on a high-margin, scalable per-click model.
• LinkUp Mobile Prepaid wireless brand offering contract-free, no-credit-check service with transparent pricing. Distributed through nationwide retail network of convenience stores. Plans range from $10/month (1 GB) to $50/month (unlimited), with unlimited talk and text across USA, Canada, and Mexico.
• Torch Wireless Lifeline-focused MVNO providing subsidized wireless connectivity to underserved and low-income households through federal and state programs. Enrolls via online channels and in-store activation partners, serving communities where broadband access is limited or unaffordable.
• Managed Marketing Services Digital engagement platform that turns POS terminals and customer-facing screens into interactive marketing tools. Enables QR code offers, real-time promotions, loyalty enrollment, and coupon delivery during checkout. Patent-pending touchscreen application providing actionable analytics and digital ad campaigns.
• ProgramBenefits.com AI-powered consumer intake platform operated by Surge Logics subsidiary. Converts verified benefit-qualified consumers into revenue opportunities. Real-time AI decisioning engine scores eligibility, predicts conversion probability, and returns ranked next-best-action across wireless, prepaid cards, benefits enrollment, and financial services. Adds over 1,000 new customers daily.
• Stored Value and Loyalty Platform White-label program available across SurgePays' nationwide retail network enabling merchants to offer branded gift cards, store credits, and loyalty programs. Manages full program lifecycle including balance tracking, transaction processing, and program management, fully integrated into SurgePays' point-of-sale system.
• ClearLine POS Platform Point-of-sale SaaS platform for wireless retailers and carriers. Enables prepaid wireless top-ups for all major wireless brands, debit and gift card activations, and all-in-one payment processing. Originally acquired from ClearLine Mobile in January 2024 for $2.5 million.
• USASNAP.com Free wireless service initiative for households receiving SNAP/EBT benefits, offering unlimited talk and text with 3GB of data for up to five household members.
• SurgePay Africa (Cross-Border Payments) Cross-border payment platform utilizing Stellar blockchain infrastructure to offer fast, low-cost transactions for Africans and their diaspora. Plans to expand into cryptocurrency and business tools by 2026.

Quantifiable outcome

• Over 100,000 active subscriber lines
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• BrandRapcoreTechnology or Integration · 5 June 2026California-based AI and operations consultancy engaged via Master Services Agreement to build real-time AI decisioning engine for ProgramBenefits.com platform. Phase 1 production expected July 2026. Engine will score eligibility, predict conversion probability, and return ranked next-best-action across wireless, prepaid cards, benefits enrollment, and financial services.
• InComm PaymentsminorChannel Partner/ Reseller/ Distributor · 18 May 2026Enabling cash deposits at over 90,000 retail locations nationwide through partnership with InComm Payments for Alpha Cash mobile banking platform.
• Alpha Modus HoldingscoreStrategic or Co-development Partner · 7 May 2026Multi-year Commercial Integration and Distribution Agreement to deploy Alpha Cash mobile wallet across SurgePays' prepaid wireless and convenience-store distribution network. Pilot of up to 25,000 device activations with revenue-sharing model. Validates enrollment economics before expanding. Partnership targets up to 100,000 retail locations.
• Stellar Development FoundationminorStrategic or Co-development Partner · 2 April 2026Awarded six-figure Stellar Community Fund grant to enhance African cross-border payment services using Stellar blockchain infrastructure. Plans to expand into cryptocurrency and business tools by 2026.
• MACK Financial Solutions LLCminorImplementation/ SI/ Consulting Partner · 14 January 2026Master services agreement providing outsourced financial and accounting services including CFO functions. Appointed Chelsea Pullano as interim CFO.
• AT&TcoreTechnology or Integration · 13 May 2025Strategic agreement with AT&T powering HERO MVNE platform. Enables MVNOs to launch wireless services using AT&T network infrastructure without needing direct carrier relationships. Confirmed partnership supporting nationwide launch of LinkUp Mobile wireless services.
• ClearLine MobilecoreTechnology or Integration · 8 January 2024Acquired equipment and operations of ClearLine Mobile for $2.5 million. ClearLine provides POS SaaS platform for wireless retailers enabling prepaid top-ups, gift card activations, and payment processing.
• ClearLine MobilecoreTechnology or Integration · 8 January 2024Acquisition of equipment and operations of ClearLine Mobile for $2.5 million. ClearLine provides point-of-sale SaaS platform for wireless retailers and carriers.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• AirVoice Wireless: Lifeline and ACP-supported MVNO distributed through retail and online channels. Competes with Torch Wireless in subsidized wireless and shares the convenience-store distribution model.
• Reach Mobile: Wireless service targeted at subprime and underserved consumers with data rewards and benefit-program integrations. Closely comparable to ProgramBenefits.com's benefit-qualified consumer monetization approach.
• Gen Mobile: Prepaid MVNO targeted at low-income and subprime consumers with Lifeline and ACP-supported offerings. Direct overlap with Torch Wireless and USASNAP.com sub-brands.
• Lyca Mobile: International MVNO focused on immigrant and multicultural segments with affordable prepaid plans. Comparable to SurgePays' underserved-community positioning and multi-country voice/text coverage.

Direct peers

• Republic Wireless: MVNO offering no-contract prepaid and hybrid Wi-Fi/cellular plans. Comparable to LinkUp Mobile's no-credit-check, transparent-pricing approach targeting budget-conscious consumers.
• Mint Mobile: Prepaid MVNO offering low-cost unlimited plans, now owned by T-Mobile. Competes directly with LinkUp Mobile on price ($15-$30/month tiers) and is a key benchmark for prepaid ARPU economics in the segment SurgePays targets.
• Consumer Cellular: MVNO targeting older and value-conscious consumers with no-contract wireless plans, distributed through retail and direct channels. Closely comparable to LinkUp Mobile's prepaid no-credit-check positioning and convenience-store retail distribution model.
• Telna (now T-Mobile MVNO platform): MVNE platform providing carrier-grade infrastructure to MVNO brands, comparable to SurgePays' HERO platform. Most direct competitor in the wholesale MVNE enablement space, particularly for new MVNO launches.
• Boost Mobile: Prepaid MVNO spun off from T-Mobile's Sprint acquisition, with deep retail presence in convenience stores and independent wireless dealers. Directly comparable to SurgePays on retail distribution strategy and prepaid customer base.

Broad incumbents

• TracFone Wireless (Verizon prepaid): Largest U.S. prepaid and Lifeline MVNO, now owned by Verizon. Operates similar prepaid and Lifeline brands distributed through retail, with nationwide carrier-grade infrastructure comparable to SurgePays' HERO/LinkUp Mobile stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/SurgePays
• Facebookfacebook.com/surgepaysinc
• LinkedInlinkedin.com/company/surgepays

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SurgePays