Billing itself as a multi-lingual and multi-currency payment gateway for SMEs, Telr recently launched in private beta as a medium for processing transactions and eyes international expansion. Founded by a couple of PayPal executives, Elias Ghanem and Sirish Kumar, who have headed departments within the company’s Asian divisions, Telr claims an advantage in the experience of its management team and proprietary software.
While there are plenty of payment gateways available to businesses, Telr is aiming to offer businesses easy and free setup of integration with payment gateways, enable mobile payments, provide customer support in the client’s language of choice, and allow for transactions in a wider variety of currencies. PayPal may operate in 190 countries, but they are not everywhere and there is a window for Telr to move in.
In addition to processing transactions, Telr will offer capital loans and invoice factoring to clients. Ghanem has previously announced that they intend to analyze the sales of their clients and then categorize them by levels of risk. From there, they may end up loaning out funds to help their clients grow.
While the service remains in beta, they are not releasing user figures. At the moment, the company says that they are aiming to launch to the public in the 3rd quarter of this year. Telr is based in Singapore, but maintains an operational headquarters in Dubai and is actually targeting that market at launch. From there, the company intends to quickly expand across the Middle East, Africa, and Southeast Asia. It sounds like they will not have initial problems with funding, either. Although they do not intend to release investment totals until they have finished raising money, a representative for the company says that they has some very-wealthy angels who maintain a bullish outlook on the business. Telr has already announced a partnership with Aramex, a Jordanian shipping and logistics giant, which should help them to expand their brand.