On Tuesday, Truecaller, one of the world’s largest caller identity service providers, collects 200 million active users per month and is increasingly proving that it can make a profit.
The Swedish organization has twice its user base since last February, when it possessed around 100 million active users per month. It took the organization nine years to arrive at its initial 100 million clients, yet only one more to twice it. The last 50 million clients have joined the stage over the most recent five months.
In India, Truecaller’s largest market, the service now has 150 million monthly active users.
Truecaller went beyond its caller identification and spam monitoring service. In recent years, it has included messaging and payment services in certain markets. Both are picking up recognition, said Truecaller co-founder and CEO Alan Mamedi. According to Mamedi, the payment service, which is currently only available in India, will soon be distributed to some African markets. In India, Truecaller would offer a lending service in a few weeks.
Today in India, there are many startups that offer users payment services. Many firms, including Truecaller and giants, for example, Alibaba-bolstered Paytm and Walmart’s PhonePe, have sent a payment administration in a nation based on UPI, a foundation created by an alliance of banks, supported by the government.
Mamedi said Truecaller was gainful in the quarter that finished in December. “It’s been an extremely glad moment for us, particularly in an industry where most organizations spend huge cash to installed clients,” he said. To date, Truecaller has raised about $99 million and tallies Sequoia Capital and Kleiner Perkins among its speculators.
Truecaller receives more than half of its advertising revenue, which it provides to its users. But Mamedi said the firm’s subscription service, which offers a number of additional features, including ad removal, is gaining momentum. Today, it makes up about 30% of Truecaller’s revenue, he said.