Chillr

Chillr operated as a pioneering mobile payments application in the Indian fintech market, enabling users to conduct instantaneous, direct bank-to-bank money transfers. The company was established in 2014 by co-founders Sony Joy, Anoop Sankar, Mohamed Galib, and Lishoy Bhaskaran and was operated by Backwater Technologies Pvt. Ltd., a subsidiary of MobME Wireless Solutions. Sony Joy, who served as CEO, previously co-founded MobME in 2006 while still an engineering student, demonstrating an early entrepreneurial drive inspired by figures like Steve Jobs and the book "Rich Dad, Poor Dad."

The platform's core service allowed users to send money to anyone in their phonebook without needing the recipient's bank account details, using only a mobile number or UPI ID. This differentiated Chillr from virtual wallets by facilitating transactions directly from the user's bank account, authenticated by a secure, bank-issued M-PIN. The application also supported mobile recharges, DTH payments, and bill splitting among users. Chillr's business model was centered on partnerships with multiple banks, including prominent institutions like HDFC Bank and Bank of Baroda, positioning itself as India's first multi-bank payment app.

The company achieved significant milestones, securing seed funding of $1 million in December 2014 and later raising approximately $8 million in a Series A round led by Sequoia Capital in 2015. This funding was aimed at expansion and technological enhancement. In a strategic move to bolster its position in the rapidly growing Indian digital payments sector, the Swedish caller identification giant Truecaller acquired Chillr in June 2018 for an undisclosed amount. Following the acquisition, the Chillr team, including its founders, was integrated into Truecaller to develop Truecaller Pay, with Sony Joy taking on the role of Vice President. The Chillr app was subsequently phased out as its features were absorbed into Truecaller's payment services.

Keywords: mobile payments, fintech India, digital payments, bank-to-bank transfer, Sony Joy, Truecaller acquisition, Sequoia Capital, MobME Wireless, Backwater Technologies, UPI payments, money transfer app, Indian startup, Anoop Sankar, Mohamed Galib, Lishoy Bhaskaran, HDFC Bank partnership, multi-bank payments, M-PIN, digital wallet alternative, peer-to-peer payments