khaskhabar.com : Friday, 06 October 2023 2:42 PM
New Delhi. Leading caller identification app Truecaller on Friday said it has acquired Bengaluru-based trustchecker service provider Anoidio Technologies Pvt Ltd, which helps businesses verify customer information through a SaaS (software-as-a-service) platform. And services to help detect fraud risk based on phone numbers and digital signals.
The company said the acquisition will strengthen Truecaller’s risk intelligence tool for enterprises, which was launched last week.
The acquisition also allowed the company to add seven full-time employees and improve technical capabilities at Truecaller.
Nami Zarringlam, co-founder, president and chief strategy officer of Truecaller, said in a statement, “The acquisition will provide Truecaller with an enhanced service and capabilities. We believe it will deliver value to our users and strengthen our existing enterprise offering.” This includes newly launched Risk Intelligence-Services where we support enterprises to reduce risk and fraud.”
TrustChecker has brought in existing customers like IIFL Finance Limited and Piramal Capital & Housing Finance Limited as well as other potential customers for Truecaller for Business.
This commercial decision is scheduled to be finalized during the fourth quarter of 2023 and is financed through existing cash. According to the company, this will have a marginal impact on cash flows and is not expected to have a significant impact on financial results in 2023.
India contributed 75.5 percent of Truecaller’s total net sales including business, premium subscriptions and advertising in the first quarter of this year.
Revenue from Truecaller for Business was $3.3 million. The company said that the demand for these services in India is still very high and the number of connected customers continues to grow well in the country.
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