Telr has announced the formation of a strategic partnership with Aramex, the regional leader in logistics, and with the hiring of Sirish Kumar as CFO and Co-Founder, says it is set to revolutionise the payment gateways in Middle East, Africa and South East Asia.
"The combination of right partners, right technology, right funding, unique value proposition and strong team will set Telr apart and give us an unmatched kick start in the UAE first and across all emerging markets later on," says Elias Ghanem, CEO and Co-Founder of Telr. "Telr's ambition to revolutionize the payment gateway landscape across all emerging markets has attracted the right talents to Telr and Aramex to partner with us. I am very proud and happy to welcome Sirish Kumar, our new CFO on board and honoured by Aramex support in this early stage of our new adventure".
Partnering with a comprehensive logistics solution firm like Aramex is a huge win for Telr. As the e-Commerce market heats up, Telr will be able to rely on preferred services to be offered to its customers. The biggest value added to the merchants will undoubtedly come from the unified payment and logistics APIs integration solution that Telr will be offering to its customer base. Aramex and Telr are committed to joint efforts to find alternative solutions to the major challenge of 'Cash on Delivery'.
"Aramex is always looking for innovative business partners in the ecommerce space. We believe Telr has a very unique and strong value proposition that will help accelerate the industry in our region, by combining all the key components that will make ecommerce thrive - logistics coupled with payments" says Hassan Mikail - Global Director of E-Commerce at Aramex.
Sirish Kumar has joined the Telr team as CFO and Co-Founder. Sirish brings an exceptional track record in financing solutions, building strategic partnerships and Mergers & Acquisitions, acquired in his years in Motorola, Nokia and Cargill. Sirish was the former Head of Finance of PayPal South East Asia and India. "The Telr venture perfectly matches my desire to build a new venture from scratch and help revolutionize the eCommerce landscape. The Telr ambition to solve three key fundamental challenges to any e-commerce player in emerging markets resonated very well with me and made me transition from the corporate world to this new exciting journey. I strongly believe that with the right people, technical solutions and partners, Telr will significantly impact the industry. I look forward to contributing to Telr's success", said Kumar, CFO and Co-Founder of Telr.
With the core team and right partnership in place, Telr is able to offer a three-pillar value proposition for merchants utilizing its service.
• First, Telr will focus on providing convenience through its secure multi-lingual and multi-currency payment gateway.
• Second, Telr merchants will have peace of mind with seamless transactions through the unified logistics and payment API.
• Third, to help with cash flow issues that plague all businesses, merchants may request for a cash advance on their transactions to boost their growth.
Due to the scale of the operations and rigorous security testing, Telr is currently aiming to be operational in H2 of 2014. Telr will initially focus on Dubai, with further regional expansion in the Middle East and North Africa following soon after from its Operational HQ in Dubai and will keep a very engaged eye on South East Asia through its headquarters in Singapore (part of Financial Tech start-up accelerator GHX).
With these new partnerships, Telr is now able to offer its three pillars of service to help eCommerce start-ups build up and grow much faster, easier and local.
Technical analysis of the QSE index
This week’s uptick was on lower volumes and that indicates weakness of that up-move. However, we are generally optimistic on the index as positive momentum has been picking up. We maintain our suppor