Freenom who is the registry for the .TK which is the ccTLD of Tokelau, which offers free domain names has closed a $3 million Series A funding round led by Kima Ventures.
Freenom is headquartered in Amsterdam runs the .TK registry which is the second most registered domain name extension in the world with over 20,000,000 domain name registrations.
Only .com has more domain name registrations that .TK
The company also has signed deals with the countries of Gabon (GA) , Central African Republic (.CF) and Mali (.ML), to manage their top-level domain registries and plans on continuing their business model of giving away free domain names.
Revenue comes from monetizing expired domain names. Freenom takes back domains that are no longer used by the registrant or have expired, then sells the residual traffic to advertisement networks.
Additional revenue will be generated by offering services, such as hosting packages, SSL certificates and others, to users.
These new services will be available starting in January.