 "Cheolwon (Charlie) Lee, chief executive officer, True Balance")
Finding it difficult to track your account and data pack balance in your dual-SIM phone? True Balance offers some help.
Launched in September 2014 by seasoned entrepreneur Charlie (Cheolwon) Lee in Gurgaon, True Balance is a prepaid mobile balance manager for Android users, offering balance checking and recharge service with one-touch. The company claims to be a pioneer in this segment. There are also some other players in this segment with different concepts.
The app is available in seven telecom circles, including in Delhi, Haryana, Uttar Pradesh, Maharashtra, and Karnataka. With two million downloads now, it expects to reach 10 million in six months and 100 million in a year. Its pan-India operations will start soon. It plans to explore various revenue models, including advertisement. It has also plans to launch a wallet service.
With an aim to increase the user base, the company says it will be focusing on marketing, and the cost-efficient way to offer recharge services . The start-up recently raised an undisclosed amount from SoftBank Ventures Korea. Earlier, the firm had raised seed funding from Korean VC Bon Angels Partners and Mega Investment. The next round of funding would be after it reaches 10 million downloads.
