Swedish newcomer brings in 430 million in venture capital – Daily News

Swedish newcomer brings in 430 million in venture capital – Daily News

     
     
     
 

     Published 2014-10-10 09:49
     
 

 
     
     
     

         

                 

The Swedish IT company TrueCaller receive SEK 430 million in venture capital. Among the new partners appear Skype founder Niklas Zennström, according to Dagens Industri.

                 
             

         

             
                 
                 
                 

                     

 

The Swedish IT company TrueCaller receive SEK 430 million in venture capital. Among the new partners appear Skype founder Niklas Zennström, according to Dagens Industri.

Truecallers mission is to collect phone numbers from around the world in an app, a digital telephone with over a billion numbers. Growth has doubled in a year. In the current situation is loading 200,000 daily users the app, according to DI.

 “We have 85 million users today, and the plan is to have half a billion users by the end of next year. With the growth we have now, I am confident that we will reach that goal, “said Alan Mamedi who is president of TrueCaller, told the newspaper.

 
        
             

     
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 So far, no company earns big money. Sales in 2013 landed 6.4 million and losses amounted to more than 17 million according to DI.

  Now, a number of renowned invest in the company with a total of 430 million. The most famous of the Swedes, Niklas Zennstrom, will also act as advisors to the company.