South Korea enters India to power start-ups ecosystem

 Korea’s central government has a progressive, hands-on approach to the Indian economy with a strong focus on investment to kick start support for and development of new and innovation technology. Born2global a Korean government agency under the Ministry of Science & ICT, chose Balance Hero India as a successful fintech Korean start up in India.

True Balance is one of the first fintech Korean Start-ups to set up business in India in 2014 and spearheading this initiative of the Korean government. Balance Hero, the Parent Company that launched True Balance, India’s leading balance and data management app.

The company with 50 Million plus downloads and a data backed approach is intending to bring a revolution and create “ finance for billions “. Combining traditional forms of user research with high end analytical tools they are looking to provide the much needed Micro loans for Utility services in India.

Cheol-won (Charlie Lee), CEO of Balance Hero said, “True Balance is Mobile Application for the Next Billion User and we are aligned with PM Modi’s vision of “Digital India”. True Balance has also been able to provide realistic solutions fintech domain for Indian users along with creating job opportunities. We have huge expansion plans for India and look forward to contributing to the booming Indian start-up ecosystem.” True Balance is focused on Tier II and Tier III markets helping provide financial services to ease the process of balance checking and payments of Utility services.

Ministry delegates along with other 8 Korea start-ups visited our company and talked about India’s market insights, recruitment, regulation & laws.

 

 

 

About True Balance

True Balance, India’s leading balance and data management app is a blend of Korean and Indian workforce and is focused to provide Finance for the Billion. The mobile application was launched in September 2014 by Mr. Charlie Lee, an alumnus of the University of Chicago. Lee came to India in 2002 and led the India business for Real Networks, being instrumental in launching the concept of hello tunes.  He then ventured into launching True Balance in India to enable seamless mobile bill recharges; which has garnered more than 50 million downloads so far. As of today, True balance is ‘One Stop Payment “solution for all utility bill payments and also foresees to provide micro loans for these services to its users along with its RBI approved Digital wallet.The app covers bill management and payment of prepaid (10 networks across 22 circles) and Postpaid (Idea, Airtel and Vodafone) services in India.

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