Truecaller acquires Chillr

Phone number search engine Truecaller announced a strategic investment into the payment space in India by acquiring Chillr, the country's first multi-bank payments app. This was in continuation of Truecaller's announcement last year that it will foray into the digital payments segment, incorporating UPI-based transfers in its app.

Truecaller co-founder and chief strategy officer Nami Zarringhalam told reporters that the founders of Chillr— Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran and therest of the organisation will join Truecaller.

Sony Joywill be the vicepresident of Truecaller Pay. Zarringhalam was confident that Chillr's team of engineers and designers will bring to Truecaller their expertise and understanding of mobile payments. He also said the company intends to leverage its full reach of over 150 million users in India as well as its 300 plus existing partnerships in India to enable Truecaller Pay as a platform.

"By acquiring Chillr, we are reaffirming our commitment to mobile payments and strengthening our plans to increase its adoption amongst our user base. We will, together, have a far bigger impact in this space through the foundation of the team's expertise and a strong user base that trust our platform and use it on a daily basis," said Zarringhalam. He, however, did not disclose the amount paid and the terms and conditions for acquiring the Chillr, which was launched in 2014.