Truecaller aims to raise $116 Million in IPO

According to the media reports, the leading global communication platform for verifying contacts and blocking unwanted calls and messages, Truecaller aims to raise $116 million in an initial public offering on Nasdaq Stockholm.

The offering is expected to comprise new shares offered by the company and an offer for sale from certain existing shareholders who are selling a portion of their current shareholding of class B shares, as per the reports.

In order to cover any over-allotment in relation to the Offering, key investors included are Sequoia Capital India, Atomico, Kleiner Perkins, OpenOcean and Zenith Venture Capital. 

Truecaller, a company founded in 2009, claims to have 205 million monthly active users in India as of second quarter of 2021. Overall, Truecaller claims to have 278 million monthly active users (MAUs) across over 175 countries during the second quarter of 2021.

Alan Mamedi, CEO of Truecaller said, “The listing is an important milestone that enables us to continue our journey as the leading global communication platform for verifying contacts and blocking unwanted calls and messages. We have proven and sustained revenue streams, and we continue to enrich our products and unlock growth opportunities using our scalable and integrated platform. Now we look forward to offering existing and new shareholders to be part of our continued journey making tomorrow’s communication smarter, safer and more efficient.”

Bing Gordon, Chairman of the Board of Directors of Truecaller, “Today marks another important step in becoming a listed company. Over the past 12 years, Truecaller has been on a fantastic journey resulting in 280 million active users and more than half a billion app downloads. We are very excited to welcome new shareholders to be part of this next chapter of our journey.”