Route Mobile expects $100 million revenue from Vodafone Idea deal
Rajdip Gupta, MD & Group CEO of Route Mobile, is excited about TruSense, a digital fraud detection product launched at the Mobile World Congress 2024, highlighting that the company is among the very few that make products to prevent digital frauds.
Route Mobile, a leading cloud communication platform provider, has won a large deal Vodafone Idea deal which goes live on April 1 and Route is positive on generating $100 million in revenue from this deal.
Speaking to CNBC-TV18, Rajdip Gupta, MD & Group CEO of Route Mobile said, “It can be more than $100 million because Vodafone Idea has almost 200 million subscribers in India right now. The number of OTT transactions are increasing day by day, and because of that we believe these number of large OTT players, they are definitely going to spend more, and indirectly, Route Mobile is going to get an advantage of being an exclusive partner with Vodafone Idea. So we are looking at $100 million for sure, but it may be more also.”
The company is excited about TruSense, a digital fraud detection product launched at the Mobile World Congress 2024. Gupta noted that the digital adoption across the global market is also growing multi-fold and people are not talking much about digital fraud.
An increase in digital transactions also means a spike in digital frauds. There are very few companies on products to prevent frauds, and Route Mobile is one of them, he stated. "We want to mitigate the risk of digital fraud by offering our API's to enterprise customers,” he added.
Regarding the market opportunity for TruSense, Gupta projected a substantial figure, aiming for revenue between $10 to $15 million in the upcoming year.
In Q3FY23, the company had lowered its full-year growth guidance to 15-17% from 20-25% because some of its OTT clients were cutting back on their spending.
The Mumbai-based company has a market capitalisation of ₹10,055.27 crore. Its shares have risen 19% over the last year.
(Edited by : Shweta Mungre)
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