India is Truecaller’s biggest market for revenue and userbase and claims every tenth user has linked a bank account to Truecaller Pay, which it could leverage for lending.
Leading the charge is Sandeep Patil, Truecaller’s India managing director, who joined the company in May this year from e-commerce giant Flipkart. Despite intense competition, he is optimistic that Truecaller can gain a strong foothold in the market. “Penetration of financial services is low in India. The good news is that more and more people are looking for such services online. And this is a big opportunity for us,” Patil told Quartz