Zenith Ventures invests $5.5M in Truecaller.

Sweden Investments 10 October 2018
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Truecaller, a Stockholm, Sweden-based company providing mobile ID services, completed a SEK 50M ($5.5M) capital investment round.

The transaction was supported by existing investor, Zenith Venture, and involved also the shares acquisition from other investors, consolidating its shareholding position at 5% of the company.

Truecaller, founded in 2009 and led by founders Alan Mamedi and Nami Zarringhalam, started as a service via a mobile app that lets you see who's calling and block unwanted calls. The company, which claims to have over 100 million active users on a daily basis, most of them from India, launched its payment service, Truecaller Pay, in 2017 in an effort to go beyond just handling messages and calls.

Truecaller has raised about $90M in capital investment since its founding, from a range of Nordic investors and from US-based venture firms KPCB and Sequoia Capital.