Lycamobile is a mobile virtual network operator (MVNO) operating in 23 countries. The brand is active in Australia, Austria, Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Russia, South Africa, Spain, Sweden, Switzerland, Tunisia, Uganda, Ukraine, the United Kingdom and the United States. The bulk of Lycamobile revenue is claimed to be generated from its SIM products. Lycatel, also a part of Lyca Group, targets customers within expatriate and ethnic markets that want to make international calls.
Lycamobile sells international pay-as-you-go SIM. Being an MVNO, Lycamobile leases radio frequencies from mobile phone network operators and forms partnerships with the operators in each country it serves. Lycamobile has also developed distinct business structures such as MVNA arrangements in different countries. It has often adopted an aggressive pricing strategy on entry to new markets in order to acquire early market share. In some instances, MNO partners of Lycamobile have been surprised by the actual growth rather than their own projected estimated growth of Lycamobile's products. In 2015, Lycamobile renewed a multi-year MVNO deal with O2.
The Lycamobile brand concept was launched in 2005 with the first trading using the brand taking place in 2006. Its business structure is arranged to have local national private companies branded under licence as "Lycamobile" and operating exclusively in the particular country as either a MVNO provider or as the principal wholesaler of Lycamobile-branded products.
Since its launch in the Netherlands in 2006, Lycamobile has more than 15 million pay-as-you-go customers worldwide.
In 2016, nearly twenty Lycamobile employees were arrested in France, with about half of them charged with money laundering. As of 2020, Lycamobile is involved in three major tax disputes with HM Revenue and Customs.