Truecaller has acquired Chillr, which was an Indian multi-bank payments app. Truecaller’s acquisition comes in a bid to increase its focus on mobile payments. With this deal, Truecaller Pay 2.0 has also been announced. This is an updated version of Truecaller’s digital payments platform. Through this update, it also aims to bring more UPI-based services to the Truecaller app.
The founders of Chillr Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran will also joining the Truecaller team. According to an official announcement by Truecaller, Sony Joy will be made Vice President of Truecaller Pay. Commenting on the deal, Sony Joy said, “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. Our roadmap on payments and financial services which when combined with the scale and resources of Truecaller, can create amazing experiences and solve genuine problems at an accelerated pace.”
The Truecaller app currently has over 150 million users in India, and has over 300 tie-ups to enable Truecaller Pay services. With the acquisition of Chillr, Truecaller Pay 2.0 will aim to bring credit and financial services in a mobile-first form. Currently, Truecaller allows users to send or receive money through a UPI-supported bank, and also comes with a ‘Request Money’ feature, that can transmit a money request through Android notifications.
“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 its adoption amongst our user base,” said Nami Zarringhalam, Co-founder & Chief Strategy Officer, Truecaller.