Telr picks up $3m for emerging markets payments gateway

Payments gateway startups Telr has picked up $3m in a Series B round led by Innovation East Funds.

The Mumbai and Singapore-based startup offers a payments gateway aggregator that allows merchants to accept multiple payments methods.

It provides APIs and tools enabling businesses to accept and manage online payments via web and mobile.

Telr aims to act as a one-stop e-commerce solution for merchants across emerging markets with a focus on Middle East and North Africa (MENA), Southeast Asia, and India.

The company claims to have seen more than $500m worth of annual transactions and aims to reach $1bn annually by the end of the year.

The new capital will be used to further grow the company’s global footprint with an emphasis on the Indonesian, Saudi Arabian and Egyptian markets.

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