Telr, a multi-lingual and multi-currency payment gateway for SMEs, has raised secured Series A funding from Hatcher and iMENA. The round whose financial details have not been disclosed came a few weeks after Telr’s recent merger with Innovate Payments. New funds will be used to expand across Middle East, Africa and Southeast Asia.
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. It has two headquarters, in Dubai and Singapore.
“The combination of a strong team, unique set of products, secure and innovative technology, alongside solid partnerships and now significant funding and exceptional Middle East and Asia investors, sets Telr apart and gives us an unmatchable kick-start across all the high growth markets”, concluded Elias Ghanem, CEO and Co-Founder of Telr.
“Telr’s outstanding technology and its track record of providing high-quality service to merchants based in the Middle East perfectly fits with our strategy to enable business models for the online industry in our region. We are impressed by the management team, and believe strongly in the Telr success in MENA, Asia and Africa markets in which we and our partners have a growing presence” commented Khaldoon Tabaza, Founder & Managing Director of iMENA.
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.