#Asia SoftBank Korea invests in mobile balance checking app True Balance

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True Balance provides quicker and intuitive balance check, call log, data pack assessment, and recharge service for prepaid Android smartphone users

True Balance

True Balance, a one-touch prepaid mobile balance manager app in India, has received an undisclosed sum in Series A funding from SoftBank Ventures Korea.

The capital will be used to accelerate its expansion and grow product development team.

Gurgaon-based True Balance was started in 2014 by South Korean expatriate Cheolwon (Charlie) Lee. True Balance claims to be providing quicker and intuitive balance check, call log, data pack assessment, and recharge service for prepaid Android smartphone users. It uses Big Data to give real time information on best plans and offers and also helps earn and recharge balance.

Also Read: SoftBank builds up Housing with US$15M investment

According to various reports, the app has clocked 2 million downloads as of this month, and is now looking to achieve 10 million mark over the next nine months.

Currently, True Balance is available for subscribers in Delhi-NCR, Mumbai, Karnataka and Haryana.

Last year, the startup had secured funding from Korean investor Bon Angels Partners and Mega Investment.

Started in 2000, SoftBank Ventures Korea is a subsidiary of SoftBank Group. The group has considerable presence in India in the form of investments in companies such as Paytm, Snapdeal and Housing.

The post SoftBank Korea invests in mobile balance checking app True Balance appeared first on e27.

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