Today, the smartphone is the primary gateway to the digital economy. The number of smartphone users globally is expected to grow to ~700 million by 2025, of which ~400 million will be in core Truecaller markets. Emerging markets tend to be "mobile first" markets, with the percentage of individuals with smartphones greatly exceeding the percentage of households with computers. For example, in India, smartphone penetration is approximately 40% while only approximately 11% of households have computers. Truecaller is well positioned to benefit from the growth of these markets and believes it has the opportunity to replicate its success in India across other emerging markets.
Fraud and unwanted communication have accompanied digital growth, creating nuisance, mistrust and hindering economic activity. Each year over USD320 billion is lost to online payment fraud*. On average, 1 in 4 calls and ~6 messages each day are outside of your phonebook, resulting in hesitation to respond.
At Truecaller, we aspire to make tomorrow's communication smarter, safer and more efficient. We were founded to create a service that would easily identify incoming calls from unknown phone numbers, but as the problem with fraud and unwanted communication grew, so did we. We have proven and sustained revenue streams, continue to enrich our products and unlock growth opportunities using our scalable and integrated platform. Today, we are the world's leading provider of phone number verification and safe communications. We’re proud to help people and businesses stay focused on who and what really matters. And the really exciting part is that we are just getting started.
*According to the 2020 Truecaller Insight report for the USA