Truecaller, a well-known caller ID service, has ventured into the eSIM market, targeting travelers with its new offering. This move is part of the company's strategy to enhance its financial stability and broaden its revenue sources as advertising income continues to decline.
The eSIM services will offer a range of data plans, from 1 GB over seven days to 20 GB over 30 days, initially available in 29 countries. Key markets include:
- Italy
- Sweden
- Spain
- France
- Germany
- Poland
- Portugal
- Romania
- The Netherlands
- Belgium
- Ireland
- Austria
- Finland
- The Czech Republic
- Denmark
- Hungary
- The United States
- The United Kingdom
- Australia
- Canada
- New Zealand
- Switzerland
- Norway
- Chile
- Indonesia
- Malaysia
- South Africa
- Egypt
- Nigeria
Interestingly, India, Truecaller’s largest market, is not included in this launch, likely due to stringent telecom regulations that have previously affected similar services.
To support this initiative, Truecaller is collaborating with Telna, a global cellular connectivity provider, and Telness Tech, a telecom software provider. The company believes that its existing user base of over 500 million will give it an edge in attracting new customers, as noted by Fredrik Kjell, the chief operating officer.
Kjell emphasized that unlike other eSIM providers who start from scratch, Truecaller can leverage its established relationships with users, enhancing distribution and pricing strategies. This strategic shift aims to make the app more valuable to users, especially during a challenging financial period marked by job cuts and disappointing quarterly results.
Truecaller is also focusing on boosting subscription revenues through additional features like AI Assistant and Family Protection. The introduction of eSIM services is seen as a potential new revenue stream amidst fluctuating ad revenues.
As eSIM adoption grows, particularly among travelers, investors are increasingly interested in startups within this space. Recent funding rounds for companies like Airalo and Roamless highlight the rising market potential.
