India’s Cashfree Payments pours $15mn in UAE’s Telr; Eyes MENA expansion

India’s Cashfree Payments pours $15mn in UAE’s Telr; Eyes MENA expansion

Cashfree Payments, India-based leading payment and API banking solutions company, has announced an equity investment of $15 million in Telr, UAE-based leading payment service provider (PSP).

Cashfree has already established itself as one of the leaders in the payment solutions space in India, with successful operationalization and scale-ups of industry-first solutions. This investment will make Cashfree one of the largest shareholders in the company.

With this strategic investment in Telr, Cashfree will be enabled to launch its distinctive offerings in the Middle East North Africa (MENA) region utilizing Telr’s strong presence and payment infrastructure.

In addition, the two firms aim to develop a unified cross-border payments platform that would help Indian merchants accept payments from customers in the MENA region and vice-versa, via a single integration.

Mr. Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “We are elated the strategic investment in Telr, which aligns well with our aspiration to be the leader in the rapidly evolving digital payments space in the MENA region and overall global expansion goals.”

Telr, the UAE-based award-winning payment gateway solutions provider, offers a unique platform that enables handling payments in over 120 currencies and 30 languages with the highest level of security. Through a single integration, Telr grants