28 Jun, 2019

Thanks to Virtway Invest’s good contact network, the company has now been given the opportunity to invest in the world-leading mobile application Truecaller.

Truecaller is a global directory inquiry service in the form of a mobile app created by the Swedish company True Software Scandinavia AB. Among the functions is a continuously updated call filter that can be activated so that no known fraudsters or telemarketers are available. Truecaller currently has about 130 million active users, of which 100 million of them live in India. In India there is the most developed version of the app, and since 2017, users can send money to each other and pay in store with the app. An Indian equivalent of Swedish Swish.

The company was founded by Nami Zarringhalam and Alan Mamedi 2009 with the goal of making it visible who it was who tried to contact you to enable a choice if you want to answer or not. Today, the company consists of approximately 100 employees with headquarters in Stockholm, three offices in India and an office in Nairobi.

In 2019, Truecaller was launched with built-in voice calls, and in recent years has also added chat, mobile payments and quick loans. Truecaller’s ambition is to become a comprehensive digital platform for services like Chinese WeChat, for their supermarkets
India and large parts of Africa.

In January 2018, Truecaller’s Head of Growth and Partnerships Nick Larsson was awarded the “30 under 30 – Technology” award by Forbes Magazine.

Virtway has previously invested in other Swedish, successful tech companies such as Bynk and Acast.