Sweden-based call-screening app Truecaller has acquired Indian mobile payments service Chillr for an undisclosed amount. Truecaller, which launched its UPI-based payments service Truecaller Pay in 2017, now wants to become a full-stack mobile payments and financial services platform, with this acquisition.
The Swedish company, which counts India as its largest market by users, plans to integrate financial services such as loans, financing, micro-insurance and more. It already supports peer-to-peer payments through a partnership with ICICI Bank.
“The aim is to go deeper into mobile payments and other associated financial services. We have decided not to charge anything from the users for basic services and are determined to make the process as simple as paying directly through the messaging tab. This will take us beyond just handling messages and calls,” said Sony Joy, co-founder of Chillr.
It would be interesting to watch if Chillr manages to bring in new users to Truecaller, considering the limited market reach Chillr has had.