Truecaller branches out to fintech ahead of potential public float

Truecaller, one of the world’s largest caller-identification system, is trialling financial service products ahead of a possible stock-exchange listing.

This year, the Swedish company started a pilot program to provide credit to small business owners in India and will begin offering the service to some of its 140 million users in the country early next year, Chief Executive Officer Alan Mamedi said.

About 20 million of its users are small business, and the company will extend credit to them by way of financial partners.

The move should bolster the preparedness of the company, formally known as True Software Scandinavia AB, for an initial public offering by 2022, Mamedi said.