Truecaller, the Sweden-based company has made its first acquisition in India. The company has announced that it has acquired Chiller, the mobile payment service to strengthen its payments business in India. With the acquisition, Truecaller aims to go deeper into mobile payments, rather than simply being a tool to screen messages and calls to weed out spammers.
Truecaller has 150 million users in India, and over 300 partners where it will leverage its payments feature. Last year, the company entered India’s digital payments space by integrating Unified Payments Interface (UPI) for cashless payments on its platform. Truecaller will now be integrating payments as core part of its offering, something that will arrive with Truecaller 2.0.
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“Since launching Truecaller Pay in 2017, we’ve seen an increasing number of use cases to make the lives of our users in India easier. By acquiring Chillr, we are reaffirming our commitment to mobile payments and strengthening our plans to increase iits adoption amongst our user base. We will, together, have a far bigger impact in this space through the foundation of the team’s expertise and a strong user base that trust our platform and use it on a daily basis,” Truecaller Co-founder & Chief Strategy Officer, Nami Zarringhalam said in a press release.
Post-acquisition, the founders of Chillr, Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran, along with the rest of the organization will join Truecaller. The move will also see Sony Joy lead Truecaller Pay as the company’s Vice President.
“After spending time with the founders and the Truecaller team, we have realized that we share a lot of synergies; values; culture; and a sharp focus on user experience,” Sony Joy, Co-founder, Chillr said in the release.
With Truecaller 2.0, the company is planning on rolling out credit and other financial services to the India users. One of these services could be the ability to pay utility bills, make bookings, recharge prepaid mobile, DTH and more.