The IIFL Fintech Fund, a subsidiary of India Infoline Finance Limited (IIFL) Group, has successfully exited its investment in TrustCheckr, a SaaS platform. Investors reaped impressive returns of 80 per cent in just 18 months, as per media reports.
TrueCaller, a caller identification and spam protection platform, recently acquired TrustCheckr for an undisclosed sum. This strategic move by TrueCaller aims to enhance its B2B offerings, particularly its enterprise risk intelligence tool.
Back in March 2022, the IIFL Fintech Fund made a significant investment in TrustCheckr. Founded in August 2021, the fund had a corpus of Rs 210 crore and received backing from IIFL Finance and IIFL Securities. Its primary focus has been to support early-stage fintech startups, resulting in 13 successful investments over the past two years.
Among the portfolio companies backed by the IIFL Fintech Fund are Trendlyne, Leegality, FinBox, DataSutram, Multipl, Finarkein, TrustCheckr, Finvu, Insurance Samadhan, and EasyRewardz.
TrustCheckr operates as a SaaS platform, aiding businesses in verifying customer information and detecting fraud risks using phone numbers and digital signals. Its expertise lies in providing valuable fraud detection solutions to enterprises.
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