Truecaller said it is looking at ways to enter the Sub-Saharan Africa's fintech market after the success of Truecaller Pay 2.0 in India.
The company is planning to enter into Sub-Saharan Africa's fintech market
Nami Zarringhalam, Truecaller Co-founder & Chief Strategy Officer, said teh company has seen a lot of synergies and growth patterns in Sub-Saharan Africa.
Truecaller has acquired Chillr, India's first multi-bank payments app launched in 2014 to further boost growth and enter the payment space in Sub-Saharan Africa.
The company said it is now looking at ways to enter Sub-Saharan Africa's fintech market after the success of Truecaller Pay 2.0 in India and moves to roll out Credit & other financial services to the masses in a mobile-first way in India.
Last year in March, the company announced its foray into the digital payments segment in India.
Nami Zarringhalam, Truecaller Co-founder & Chief Strategy Officer, said, “Since launching Truecaller Pay in India in 2017, we’ve seen an increasing number of use cases to make the lives of our users in India easier. We see a lot of synergies and growth patterns in Sub-Saharan Africa, therefore we think it makes sense to explore the digital payment space more seriously.”
Earlier this year, Truecaller opened up their first office in Nairobi to expand in Sub-Saharan Africa and recruited Zakaria Hersi as Director of Partnerships for Africa. In his position, Zakaria has been spearheading Truecaller’s expansion in the region and forging partnerships with various ecosystem players.
Truecaller started as a caller ID and spam blocking app for smartphones, but over the years it has transformed to a full-fledged communication app in Africa
In April, the integrated caller ID service said its Nigeria application blocked and filtered more than 13 million calls and 25 million spam SMSes per month.
It also stated that the app has leapfrogged from 100 million monthly active users (MAUs) per month to 100 million daily active users (DAUs) with more than 20% of its user base in Africa.