LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » Small Business News

Payment gateway Telr receives $3 million in Series B funding

The funding will be used by the company for initiatives such as a web store builder and short-term lending.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Payment gateway Telr receives $3 million in Series B funding
Sirish Kumar, CEO and Co-founder, Telr. Photo: Telr
Written By: ZeeBiz WebTeam
Updated: Wed, May 17, 2017
01:23 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions
Digital payments in India reverse trend, grow in March Digital payments in India reverse trend, grow in March
Govt awards over Rs 8.3 crore to consumers, merchants using digital payments Govt awards over Rs 8.3 crore to consumers, merchants using digital payments
Are digital payments start-ups heading the merger and acquisition way in 2017? Are digital payments start-ups heading the merger and acquisition way in 2017?
How Freecharge got left behind in the digital payments race How Freecharge got left behind in the digital payments race
Key highlights:
  • Telr received an investment worth $3 million from investor Innovations East
  • Investment will be used to build out and enhance Telr’s core product proposition
  • Telr anticipates reaching $1 billion of transactions per year by the end of 2017

Online payment gateway company Telr announced it received an investment worth $3 million from investor Innovations East as part of their Series B funding round. The investor is a fund managed by people with experience in marketplaces and online payments.

The company said that the investment will be used to build out and enhance Telr’s core product proposition, roll out new payment methods and scale up operations in focus markets, especially India and other emerging markets.

Funds will also be deployed, through selective partnerships, in creating an ecosystem for SMEs seeking to take their businesses online – with initiatives such as a web store builder and short-term lending, said the company.

Sirish Kumar, CEO and Co-Founder of Telr said, “The infusion of funds in the Series B round would help Telr to not only strengthen its core offering, but also innovate around payment methods. Furthermore, while we focus on deeper penetration in the UAE, India, Saudi Arabia, Egypt and Indonesia, the funds will facilitate our continued expansion to other emerging markets.”

Telr has an extremely senior team with prior experience of working at firms such as WorldPay, PayPal, Standard & Poors and Voice Commerce.

With growth of more than over $500 million of transactions annually, Telr anticipates reaching $1 billion of transactions per year by the end of 2017.

Through its earlier rounds of fund raising, Telr had raised funds from investors in Singapore and the Middle East, including Hatcher and iMena Holdings.

Wodehouse Capital Advisors advised on the transaction.

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
telrPayment Gateway CompaniesPayment gateway TelrSeries B fundingfundingInnovations EastSMEsinvestorSirish KumarUAESaudi ArabiaStartups
RELATED NEWS
Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions Budget 2017: Payment gateway cos expect govt to offer incentives, tax breaks & exemptions to boost digital transactions
Digital payments in India reverse trend, grow in March Digital payments in India reverse trend, grow in March
Govt awards over Rs 8.3 crore to consumers, merchants using digital payments Govt awards over Rs 8.3 crore to consumers, merchants using digital payments
Are digital payments start-ups heading the merger and acquisition way in 2017? Are digital payments start-ups heading the merger and acquisition way in 2017?
How Freecharge got left behind in the digital payments race How Freecharge got left behind in the digital payments race

LATEST NEWS

How to check IRFC IPO Allotment Status Online: All you need to know in one place

Republic Day 2021: LIVE! Tight security for 72nd R-Day celebrations, tractor parade

Republic Day Parade 2021: When and where to watch live telecast of R-Day Parade - timing to traffic routes, all details here

7th Pay Commission Latest News: Salary up to Rs 2.08 lakh plus NPA; take the first step to get this government job available on upsc.gov.in

Stocks in Focus on January 25: Reliance, HDFC Life, UltraTech Cement, Grasim to Tata Power; here are the 5 Newsmakers of the Day

HDFC Securities Budget Expectations highlights I From MNREGA, education to affordable housing, all you need to know

''See you at your trial'': Big decision looms for Kamala Harris on Trump impeachment trial

SBI Green Pin – Know how to generate through ATM debit card via smartphone OTP in SIMPLE steps

PUBG Mobile India launch: Important notification issued by govt | Check reason for BIG Trouble here

Vi vs Jio vs Airtel: Check some of the best cheap prepaid recharge plans for you | Full details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved