True Balance

True Balance is a mobile app for people in India to easily check and recharge their mobile balance.

True Balance operates an eponymous financial services app aimed at tens of millions of users in small cities and towns in India.

True Balance was founded in 2014 by Charlie Lee, Jay Yi, & Martin Lee. The company is based in South Korea, with an offices in India.

True Balance serves as a digital wallet app that helps users pay their mobile and electricity bills, and offer credit to customers so that they can pay later for their digital purchases.

True Balance brought a revolutionary mobile balance checking method, the One-tap balance check. With True Balance, people in India no longer need to suffer from typing in every USSD code every time to check their mobile balance.

 

True Balance provides recharge option for various telecoms, such as Vodafone, Idea, Airtel, Telenor, TaTa Docomo, BSNL, MTNL, Aircel, Reliance Communications and Reliance Jio. The company has amassed over 60 million registered users in India, most of whom live in small cities and towns — or dubbed India 2 and India 3.

 

True Balance is backed by NH Investment & Securities, IMM Investment, HB Investment, IBK Capital, D3 Jubilee Partners, SB Partners, Shinhan Capital and others. The company raised $23M from a "Series C" financing on Oct 15, 2019. The latest round brings True Balance's total funding to $65M to date.

 

 

  • Year founded: 2014
  • Funding Info: $65M over 5 Rounds (Latest Funding Type: Series C)
  • Yearly Revenue: $100M (2019)
  • Employee Size: 51-200
  • Business Valuation: NA
  • City/Town: Seoul
  • State: Seoul
  • Country: South Korea
  • Employee: Martin Lee
  • Title:
  • Email:
  • LinkedIn:
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