Truecaller to launch credit services in early ‘20

After its foray into digital payments, Sweden-based spam filtering app Truecaller is all set to turn lender in India, offering credit services by the first half of 2020. “We are focused on driving financial inclusion in the country given the user base we already have,” Truecaller MD Sandeep Patil told TOI. “While we will continue to scale our payments platform, we are also working to launch lending services in the country by Q1 or Q2 of 2020, he added. Around 20 million Truecaller users have already linked to their Truecaller pay account. Truecaller did not disclose the value of investments in the country to support its ambitions to become a super app 70% of Truecaller’s user base and revenues comes from India.
Truecaller said it is also expanding its talent base in India to meet the growth plans. India headcount will grow anywhere between 3x-5x in the next three years, Patil said. “India is already bigger than Sweden for us when it comes to team base,” he added. By the middle of next year, 70% of Truecaller’s global team will be based in India.