View source for Company:True Balance

{{Infobox company
| name = True Balance
| type = [[Finance:Public company|Private]]
| industry = [[Social:Fintech|Fintech]]
| founded = 2014
| location = {{Unbulleted list|Gurugram, Haryana, {{wipe|India}}|
[[Place:Seoul|Seoul]], {{wipe|South Korea}}}}
| area_served = India
| homepage = [https://www.truebalance.io/ truebalance.io]
}}
'''True Balance''' is a mobile financial platform operated by Balancehero India Pvt. Ltd. based in Gurugram, India. True Balance app provides [[Finance:Digital wallet|digital wallet]], lending, recharge & utility payments, e-commerce, insurance and cash loans mainly to financially underserved customers in {{wipe|India}}.<ref name=":0">{{Cite web|url=http://social.techcrunch.com/2019/05/29/truebalance-balancehero-india/|title=Under-the-radar payments app True Balance just clocked $100M in GMV in India|last=|first=|date=May 29, 2019|website=TechCrunch|language=en-US|url-status=live|archive-url=|archive-date=|access-date=2019-12-06}}</ref><ref name=":1">{{Cite web|url=http://social.techcrunch.com/2019/10/15/true-balance-india-payments-app-cities-towns/|title=True Balance raises $23M to bring its payments app to more small cities and towns in India|last=Singh|first=Manish|date=October 15, 2019|website=TechCrunch|language=en-US|url-status=live|archive-url=|archive-date=|access-date=2019-12-06}}</ref>

== True Balance app ==
The True Balance app was launched as a tool to help users find their mobile balance and top up [[Engineering:Prepaid mobile phone|pre-paid mobile]] (balance).<ref name=":0" /><ref name=":1" /> The application targets to customers in India only, in tier-two and tier-three markets where access to [[Internet|internet]] is limited.<ref name=":0" /> The app can be downloaded to any [[Software:Android (operating system)|Android]] mobile device, converting a text message with available balance into [[Infographic|infographics]] instead.<ref>{{Cite web|url=https://www.thenewsminute.com/article/dpiit-asks-amazon-flipkart-disclose-their-top-five-sellers-business-model-and-more-110964|title=DPIIT asks Amazon, Flipkart to disclose their top five sellers, business model and more|last=Mahadevan|first=S.|date=October 22, 2019|website=The News Minute|url-status=live|archive-url=|archive-date=|access-date=2019-12-06}}</ref><ref>{{Cite web|url=https://entrackr.com/2019/03/exclusive-true-balance-marketplace/|title=Exclusive: SoftBank-backed True Balance looks to explore Paytm's market turf|last=Sharma|first=Yanogya|date=2019-03-06|website=Entrackr|language=en-US|access-date=2019-12-06}}</ref>

Over time, True Balance's functionality was expanded and in December 2017, [[Finance:Digital wallet|digital wallet]] services were added to the app.<ref>{{Cite web|url=https://www.medianama.com/2018/04/223-true-balance-expands-balance-management-service-to-postpaid-numbers/|title=True Balance expands balance management service to postpaid numbers|last=Shrivastava|first=Aakriti|date=2018-04-06|website=MediaNama|language=en-US|url-status=live|archive-url=|archive-date=|access-date=2019-12-06}}</ref> Additional services include the function of making electricity, gas, and phone bill payments, DTH recharges, and a peer-to-peer transfer service.<ref name=":1" /><ref>{{Cite web|url=https://platum.kr/archives/86937|title=Balance Hero, 1st Korean startup to become an electronic payment provider in India|date=2017-08-23|website='Startup's Story Platform’|language=ko-KR|access-date=2019-12-06}}</ref><ref>{{Cite web|url=https://www.medianama.com/2017/08/223-true-balance-gets-wallet-licence-india/|title=Softbank Korea-backed True Balance gets a wallet licence in India|date=2017-08-08|website=MediaNama|language=en-US|access-date=2019-12-06}}</ref>

== References ==
{{Reflist}}

{{Mobile payments}}

[[Category:Online payments]]
[[Category:Payment service providers]]
[[Category:Companies (Finance)]]
[[Category:Companies]]

{{Sourceattribution|True Balance|1}}