UAE-based Telr, an online payment gateway startup, has closed an undisclosed institutional round of funding led by its three largest investors, which includes iMENA.

The investment will be used to fuel the company’s growth plans in the GCC and wider Middle East region.

Telr processes payments of large-scale organisations such as government entities, retail chains and ride-hailing apps as well as the small to medium-sized enterprise (SME) segment. Telr also offers digital invoicing,  anti-fraud security and real-time monitoring services, QR Codes, social commerce solutions, hosted pages and entry-level fee packages for brand new startups.

“Small businesses are the backbone of any economy and are huge employers,” said Khalil Alami, Telr’s newly appointed chief executive officer (CEO). “Merchants can grow their company in an affordable and creative way without having to worry about how to capture payments from their customers or about accessing financial services.”