Caller ID giant Truecaller has launched eSIM services in a bid to diversify revenue streams. The company now offers plans ranging from 1GB over seven days up to 20GB across thirty days, initially covering 29 countries.

The launch is part of a strategy to bolster the company’s financial health amid declining ad revenues. Truecaller is working with Telna and Telness Tech for the eSIM platform and leveraging its existing user base of over 500 million monthly users to attract new customers, differing from competitors who had to grow their audiences from scratch.

Despite a recent job cut of 70 employees across various teams and disappointing Q1 figures, Truecaller is optimistic. The company sees subscription services like AI Assistant and Family Protection as key to future growth, with eSIMs providing an additional source of income in uncertain times for ad revenues.

The timing could not be better, as eSIM adoption rates are on the rise due to travel needs and device compatibility. Investors are also eyeing opportunities in this burgeoning market, with startups like Airalo and Roamless raising significant funding over the last year.