Company set to lead the next revolution in e-commerce across the region
Dubai, UAE - November 30th, 2014 - Telr, a Singapore and Dubai-based, online payment gateway focused on emerging markets in Middle East, Africa and Southeast Asia, has been awarded the prestigious Startup of the Year award during the Arabian Business Startup Awards which were recently held in Dubai.
Telr, which launched earlier this year, has been at the forefront of revolutionizing e-commerce across the Middle East, Africa and Southeast Asia regions by providing merchants with a multi-lingual and multi-currency online payment gateway combined with cash management solutions. Telr is already fully operational in the UAE and planning to be across many markets in Middle East, Africa and Southeast Asia in the coming months.
"We are delighted to win this award, as we see it at as recognition for our efforts to promote e-commerce and provide much needed support to SME's in the region" commented Telr co-founder and CEO Elias Ghanem. "We launched Telr less than a year ago with the vision to provide a payment gateway for the region, that understands the market dynamics of the Middle East and to empower local e-merchants. The combination of a strong team, innovative technology and meaningful partnerships have already put us in a unique position to work hand in hand with the region's most promising startups and established companies to take full advantage of the opportunities that e-commerce presents."
Telr's innovative online, mobile and social media payment products empower e-merchants to establish and grow their e-businesses. By providing an online payment gateway supporting numerous currencies, companies in UAE and beyond are able to sell online and offer their customers the choice of paying in their own currency.
"Startups and SMEs are what's fueling the region's new economy," added Sirish Kumar, Telr co-founder and CFO. "Supporting these companies and providing them with the tools and solutions they need to succeed is a top priority for us and an important step towards ushering in the next revolution in e-commerce and creating opportunities and jobs for the young rich pool of talent across the region."
Following a recent merger with Innovate Payments, Telr has signed a partnership agreement with Aramex, and has secured Series A funding from Hatcher and iMENA; leading investors based in Singapore and MENA, further enhancing the company's position as a leading online payment gateway provider.
Elias Ghanem, CEO and co-founder of Telr. Former MD of PayPal Middle East and North Africa and previously MD of PayPal Southeast Asia and India. A long-time executive at Visa Inc., Mr. Ghanem is a proven payment industry leader with a strong entrepreneurial drive and years of success in managing e-payment solutions. Elias has a solid track record of breakthrough results in regional leadership roles at PayPal/eBay, Visa, and Accor Group in the Middle East, Asia Pacific and Latin America. Mr. Ghanem is fluent in five languages, and a 2013 nominee for the Arabian Business "Mentor of the Year" award. He holds a Master's degree in Business Administration from University of Miami, Fl, USA.
Sirish Kumar, CFO and co-founder of Telr has held leadership positions in Motorola, Nokia, Cargill and most recently at PayPal as CFO for Southeast Asia. He has leveraged his expertise in commercial negotiations, financial modelling, and post- acquisition integration. He has led geographical expansion strategies in several emerging markets. He has also developed financing solutions for B2B models, in collaboration with credit insurers and banks, leading to more than 100% top line profitable growth in new markets. Sirish is a Chartered Accountant and holds a Master's degree in Business Administration from INSEAD, France.
Telr is a Payment Gateway offering a set of unified APIs and tools that instantly enable businesses to accept and manage online payments via web, mobile and social media. Telr prides itself on offering the most secure, reliable and innovative online payment processing service available today in the Middle East. Telr has a team of passionate and experienced ePayments experts and a solid in-house developed platform aiming to revolutionize the payment gateways industry in Middle East, Africa and Southeast Asia through its unique value proposition of payment gateway and cash management solutions.
About iMENA Group
Founded in 2013, iMENA Group is an operator of online businesses that aims to be the Middle East and North Africa's largest integrated and actively managed group of online companies. iMENA Group captures the online consumer opportunity in MENA by using a distinctive investor-operator approach. iMENA platform and methodology in value creation are synchronized to unlock the potential underlying the MENA region's large and young consumer populations, whose demand for efficient online services across various sectors remains mostly unaddressed. iMENA Group invests in, builds, and partners with regional leaders in Online Classifieds, Marketplaces, and Enablement business models.
Hatcher is a leading Singapore-based accelerator and investment holding company. With a growing number of established businesses spread across many industries, including data archiving service DropMySite, outdoor advertising marketplace EatAds, working capital platform ApexPeak, home renovation portal KluJe, and online payments and cash management platform Telr, Hatcher is focused on developing and growing business enablement, financial services, interactive media, and marketplace platforms in the emerging markets of Africa, Asia, and the Middle East. http://hatcher.com
© Press Release 2014