A listing of Truecaller is not only a milestone for Nami, myself and all of our employees who have contributed to building Truecaller to the fantastic platform that it is today, but also to the growing Swedish tech ecosystem,” he said in a statement Wednesday. Thanks to the strong feedback that we’ve received from potential investors, it feels very exciting to take the next step in this process. “One of our objectives this year has been to prepare Truecaller for an IPO.

Six years ago, the firm engaged with some investors to raise an additional $100 million at a valuation of $1 billion, TechCrunch reported, but the deal never materialized. It has raised over $95 million over the years, according to Crunchbase. The firm counts Sequoia Capital and Atomico among its earlier investors. The firm, which has amassed 278 million monthly active users, has been working on its initial public offering for at least two years, according to TechCrunch’s past conversations with Truecaller co-founder and chief executive Alan Mamedi. The company said it plans to do its listing by fourth quarter of this year. The 12-year-old Stockholm-headquartered firm, which counts India as its biggest market by users, is aiming for a valuation of about $3 billion in the IPO, according to earlier local media reports. Truecaller, which operates an eponymous caller-identification service, said on Wednesday it is looking to raise $116 million in an initial public offering on Nasdaq Stockholm.

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