Truecaller Enters eSIM Market to Diversify Revenue Streams

Truecaller, a popular caller ID company, has launched eSIM services for travelers, marking a significant expansion of its offerings. This move aims to bolster the company's balance sheet and diversify its revenue streams amid declining ad revenues.

Diversifying Revenue Streams

Truecaller's eSIM launch comes at a critical time for the company. Last week, it slashed 70 jobs across various teams and posted disappointing Q1 2026 numbers, with net sales dropping 27% to 362 million SEK ($39.34 million) and ad revenues declining by 44%. The company is now leaning into increasing subscription revenues with features like AI Assistant and Family Protection. Additional services like eSIM could provide newer money-making avenues.

Initially, the eSIM product will be available in 29 countries, including Italy, Sweden, Spain, France, Germany, Poland, Portugal, Romania, the Netherlands, Belgium, Ireland, Austria, Finland, the Czech Republic, Denmark, Hungary, the United States, the United Kingdom, Australia, Canada, New Zealand, Switzerland, Norway, Chile, Indonesia, Malaysia, South Africa, Egypt, and Nigeria. Notably, India, the company's biggest market, is missing from the list due to strict telecom regulations.

Truecaller is working with global cellular connectivity provider Telna and telecom software provider Telness Tech to operate the eSIM platform. The company believes its existing user base of over 500 million will prove beneficial for acquiring new users, as they already trust and use the Truecaller app.

"The starting point is different from other players in the category. They have had to build their audiences from zero. We are offering travel eSIM inside our app that over 500 million people already use and trust every month," Truecaller chief operating officer Fredrik Kjell told TechCrunch over email.

A Strategic Move

Kjell also said that this is a strategic move for Truecaller that makes the app more usable for users. "These are established relationships, with a large number of people having used Truecaller for many years. That changes distribution and pricing," he added.

The eSIM adoption is on the rise thanks to travel and device compatibility. Investors are also interested in putting money into eSIM startups. Within the last 12 months, startups like Airalo, Roamless, Kolet, eSIMo, and Truley raised millions of dollars.

With Truecaller's eSIM launch, the company is well-positioned to capitalize on this growing trend and further diversify its revenue streams.