Caller ID app company Truecaller acquired India mobile payments app Chillr, a move which will see it add multiple new financial services to its existing platform.
In a company blog, Sweden-headquartered Truecaller said it would phase out the Chillr brand name and incorporate its main features into the Truecaller Pay service.
Chillr’s app provides a wide-ranging financial management and mobile payment service including in-store payments and fund transfer between bank accounts. It also has deals in place with India’s major financial services providers.
Truecaller made its first move into India’s burgeoning mobile finance sector in 2017 when it signed a deal with Indian bank ICICI to add a bank transfer feature to its app in the country. Prior to this, its core service was caller and SMS identification and blocking spam – as is the case in its other markets.
“By acquiring Chillr, we are reaffirming our commitment to mobile payments and plan to increase the adoption of it amongst our user base,” Truecaller cofounders Alan Mamedi and Nami Zarringhalam (pictured) said in the blog.
“We will, together, have a far bigger impact in this space through the foundation of the team’s expertise and a strong user base who trust our platform and uses it on a daily basis,” the pair added.