Truecaller buys Chillr, looks to expand digital payments services

BENGALURU: Stockholm-based Truecaller, owned by True Software Scandinavia AB, on Wednesday acquired Mumbaibased mobile payments startup Chillr (Backwater Technologies Pvt. Ltd) for an undisclosed amount. This is Truecaller’s firstever acquisition in the India market, according to a company statement. Both companies are backed by common investor Sequoia Capital.

Truecaller started off in India as an online directory for mobile phone numbers, and later expanded into call management, messaging and instant payments through UPI. With the Chillr acquisition, Truecaller plans to launch mobile recharges, bill payments and other utility payment services under its ‘Truecaller Pay’ feature.

Trucaller is betting on the UPI wave and going for a facelift that will see banking and payments as a core offering. The company said it will eventually get into consumer credit and other financial services in the months ahead.

Backwater Technologies was founded by Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran in 2014. Chief executive Joy said in a press meet that the Chillr brand, which includes a mobile app, will be phased out and its users prompted to move to Trucaller to continue performing payments.