Truecaller said it has appointed Odd Bolin as its new Chief Financial Officer (CFO). Bolin will join the management team in Stockholm and oversee the financial management and operations to support the company’s growth, and to prepare the firm for an initial public offering (IPO), a statement said.
This is the second senior hire by the company in the past two months to strengthen the management team, it added.
Prior to this role, Bolin was the Group CFO at Sinch, a global leader in cloud communications for mobile customer engagement where he helped take the company public and led half a dozen international acquisitions, including Sinch’s USD 130 million acquisition of Mblox in 2016.
Bolin has also been Group CFO at intellectual property firm Zacco, mobile games developer G5 Entertainment, and IT consultancy Cybercom. Previous to that, Bolin was a stock market analyst and M&A advisor.
Speaking on the appointment, Alan Mamedi, CEO and Co-Founder at Truecaller, said: “As Truecaller is preparing for an IPO, Odd will play a key role in the process. We have strong confidence in Odd’s expertise and previous experience in taking high growth companies public, and we believe that he will add great value to the company and the management team.”
The Swedish company had 267 million active users globally at the end of 2020. India is the biggest market for the company with 195 million users.
“Truecaller is a success story that I’m very excited to be a part of, and I’m eager to support the company in taking it public. I think we’ve only just scratched the surface of our potential. There is still tremendous opportunity to expand our footprint globally,” Bolin said.
The company said its active user base grew 25 per cent in 2020 – rising from 213 million active users at the beginning of the year to 267 million active users globally at the end of 2020, while also becoming profitable and cash flow-positive.
“India contributes a majority of users and revenue for Truecaller. Currently, Truecaller has 195 million active users in India alone,” it added.
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