Company:True Balance
| Type | Private |
|---|---|
| Industry | Fintech |
| Founded | 2014 |
| Headquarters |
|
Area served | India |
| Website | truebalance.io |
True Balance is a mobile financial platform operated by Balancehero India Pvt. Ltd. based in Gurugram, India. True Balance app provides digital wallet, lending, recharge & utility payments, e-commerce, insurance and cash loans mainly to financially underserved customers in India .[1][2]
True Balance app
The True Balance app was launched as a tool to help users find their mobile balance and top up pre-paid mobile (balance).[1][2] The application targets to customers in India only, in tier-two and tier-three markets where access to internet is limited.[1] The app can be downloaded to any Android mobile device, converting a text message with available balance into infographics instead.[3][4]
Over time, True Balance's functionality was expanded and in December 2017, digital wallet services were added to the app.[5] Additional services include the function of making electricity, gas, and phone bill payments, DTH recharges, and a peer-to-peer transfer service.[2][6][7]
References
- ↑ 1.0 1.1 1.2 "Under-the-radar payments app True Balance just clocked $100M in GMV in India" (in en-US). May 29, 2019. http://social.techcrunch.com/2019/05/29/truebalance-balancehero-india/.
- ↑ 2.0 2.1 2.2 Singh, Manish (October 15, 2019). "True Balance raises $23M to bring its payments app to more small cities and towns in India" (in en-US). http://social.techcrunch.com/2019/10/15/true-balance-india-payments-app-cities-towns/.
- ↑ Mahadevan, S. (October 22, 2019). "DPIIT asks Amazon, Flipkart to disclose their top five sellers, business model and more". https://www.thenewsminute.com/article/dpiit-asks-amazon-flipkart-disclose-their-top-five-sellers-business-model-and-more-110964.
- ↑ Sharma, Yanogya (2019-03-06). "Exclusive: SoftBank-backed True Balance looks to explore Paytm's market turf" (in en-US). https://entrackr.com/2019/03/exclusive-true-balance-marketplace/.
- ↑ Shrivastava, Aakriti (2018-04-06). "True Balance expands balance management service to postpaid numbers" (in en-US). https://www.medianama.com/2018/04/223-true-balance-expands-balance-management-service-to-postpaid-numbers/.
- ↑ "Balance Hero, 1st Korean startup to become an electronic payment provider in India" (in ko-KR). 2017-08-23. https://platum.kr/archives/86937.
- ↑ "Softbank Korea-backed True Balance gets a wallet licence in India" (in en-US). 2017-08-08. https://www.medianama.com/2017/08/223-true-balance-gets-wallet-licence-india/.
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