03 Feb Half a decade of >7.5 crore trusted users
Journey of an Indo-Korean start-up in empowering the next-billion Indians
Over the journey of five years since True Balance found a home in India, the one thing that has fascinated us, taught us about diversity, civilization and the collective resilience of a nation – is co-existing. This harmony within diversity in fact, is what makes India as a nation a force to be reckoned with.
As the new year has arrived with new hopes, ambitions and dreams of a pandemic-stricken world, it makes sense for us to take a step back, and look at a few key milestones that helped True Balance being trusted by millions of Indians within such a short span.
Fuelling roots of progress between two nations
Initially, the services provided by True Balance focused on providing simple mobile balances in India. The goal however, was to help create a world where people can freely communicate, elevate their financial situation, and overcome financial struggles at fair costs and easy accessibility. We were able to earn the trust of consumers with zero hidden fees, complete compliance to FDI laws and a ‘zero tolerance’ policy against disrespectful behaviour and unethical practices.
This aim to bring the next billion Indians into the fold of financial inclusion was boosted further when True Credits, the group entity of True Balance was given the ‘license to lend’ by the Indian financial regulator. And we did achieve that and more! So far, True Balance group has invested >70 million in the country and has more than 7.5 crore registered Indian customers.
Our inspirations did not find a halt there as well.
In fact, True Balance was proud to be selected as one of the ‘preliminary unicorns’ under the Korean Government’s ‘K-Unicorn project’. Charlie Lee, CEO and Founder at True Balance was also part of the selected few to be invited to the ‘Korea-India CEO Roundtable’ which was graced by President Moon Jae-in and Prime Minister Narendra Modi.
Such bilateral relationships across borders and cultures offer the right kind of momentum a young start-up like True Balance needs – further strengthening our mission to ensure ‘finance for all’.
Consequently we came across priceless, inspirational stories by rural customers of True Balance, making the best use of the smallest amounts of money to help their neighbours, support a stranger with a COVID-19 insurance, and even become ‘atmanirbhar’ or financially independent.
Empowering the ‘Next Billion’ digital Indians
As the digital and financial prowess of the ‘next billion’ Indians grow, so will True Balance’s versatility and innovations to support their dreams and ambitions. As we step into a new decade, here’s hoping for many more years of serving you with the same passion, motivations, and value, that has been inspiring us so far.