Truecaller pivots to eSIM market amid revenue slump and job cuts
The company’s new service, developed with partners Telna and Telness Tech, launches in 29 countries but excludes its largest market, India, due to regulatory hurdles.
Caller ID application Truecaller has launched eSIM services for international travellers, a strategic move designed to diversify revenue streams as the firm contends with shrinking advertising income. The new offering, developed in partnership with global cellular connectivity provider Telna and telecom software firm Telness Tech, provides data plans ranging from 1 GB over seven days to 20 GB over 30 days.
The initial rollout makes the service available in 29 countries, including Australia, the United States, the United Kingdom, Canada, New Zealand, and several European nations such as Germany, France, and Italy. The expansion also covers markets in South America, Africa, and Asia, including Chile, South Africa, Indonesia, and Malaysia.
Notably, India, Truecaller’s largest market, is excluded from the launch. This omission is likely attributable to strict local telecom regulations that have previously hindered competitors like Airalo and Holafly, who faced blocks over concerns regarding fraudulent use.
Truecaller aims to leverage its existing user base of more than 500 million monthly active users to gain a distribution advantage over rivals that must build audiences from scratch. Chief Operating Officer Fredrik Kjell stated that these established relationships alter the distribution and pricing dynamics compared to other players in the category.
The launch follows significant internal restructuring, with the company slashing 70 jobs across various teams last week. Financial results for the first quarter of 2026 were also disappointing, with net sales dropping 27 per cent to 362 million SEK ($39.34 million) and advertising revenues declining by 44 per cent.
While the company increases its focus on subscription revenues through features such as the AI Assistant and Family Protection, the eSIM service represents a new avenue for income during periods of shaky ad revenue. The broader eSIM market is seeing increased investor interest, with startups like Airalo, Roamless, and Kolet raising millions of dollars in the last 12 months.
