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Truecaller buys Chillr, looks to expand digital payments services

Truecaller, owned by True Software Scandinavia AB, on Wednesday acquired Mumbai-based mobile payments start-up Chillr (Backwater Technologies Pvt Ltd) for an undisclosed amount. This is Truecaller’s first ever acquisition in the India market, according to a company statement. Both companies are backed by common investor Sequoia Capital. Truecaller started off in India as an online directory for mobile phone numbers, and later expanded into call management, messaging, and instant payments through UPI. With the latest acquisition, Truecaller plans to launch mobile recharges, bill payments, and other utility payment services under its ‘Truecaller Pay’ feature. All 45 employees at Chillr will now move to Truecaller, added Nami Zarringhalam, chief strategy officer of Truecaller. Truecaller claims to have over 100 million daily active users (DAUs) globally including more than 150 million registered users in India, according to Zarringhalam.

Read More at Livemint News date : 14 Jun 2018, Thursday

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