Truecaller buys Chillr for Indian mobile payments thriller
Truecaller has acquired India’s multi-bank payments app Chillr as it seeks to carve out a space in the fintech market.
This is Sweden-based Truecaller’s first acquisition and an expansion of its offerings. The firm was initially designed to let people look up phone numbers, and block calls and SMS.
According to Truecaller, Chillr’s team of engineers and designers have a “profound understanding of mobile payments” and “the social fabric of India”.
The acquisition also builds on Truecaller Pay, which was launched last year, and a clear sign of its intent.
With Chillr onboard, the firm plans to increase the adoption of mobile payments amongst its user base. The Chillr team will become the Truecaller Pay team – and Truecaller says all staff will keep their jobs.
Truecaller has around 100 million daily active users around the world. India is its strongest market with 150 million registered users. Naturally, it will be looking to take on WhatsApp in this area.
Financial details were not disclosed.