Cashfree Payments (Cashfree), a leading payments and API banking solutions firm, made a $15 million equity investment in Telr, a major Payment Service Provider (PSP) in the UAE and Saudi Arabia. Cashfree becomes one of the company’s largest shareholders as a result of this transaction.
Telr, an award-winning payment gateway solutions provider based in the United Arab Emirates, provides a unique platform that allows for secure payment processing in over 120 currencies and 30 languages.
Cashfree Payouts, which has a market share of over 50% among payment processors, now leads the way in bulk disbursals in India. SBI, India’s largest lender, recently invested in Cashfree, highlighting the company’s importance in developing a strong payments environment.