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Telr.com announces strategic partnership with Aramex
The start-up has also appointed a chief financial officer ahead of its launch later this year
May 19, 2014 1:02 by kippreport
By Sidra Tariq
Months after breaking ties with PayPal, the founder of an upcoming online payment gateway provider, Telr.com, has announced a strategic partnership with logistics firm Aramex and a senior appointment, to build the foundation for his start-up.
Elias Ghanem, former managing director at PayPal Mena, aims to “revolutionise the payment gateway landscape” with the launch of the start-up in the second half of this year, which will provide integrated e-commerce solutions to small-to medium-sized enterprises. This includes a payment gateway, unified logistics and payment application programming interface (APIs), as well as cash management services.
The partnership with Aramex will enable the company to take advantage of comprehensive logistics solutions for its merchants.
Telr.com also sees another ex-PayPal employee transition from the corporate world to the start-up eco system. Sirish Kumar, the former head of finance for PayPal in South East Asia and India, has joined the company as a co-founder and chief financial officer.
“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 Ghanem.
The UAE’s e-commerce industry is currently worth AED10.7 billion and is expected to grow to AED18.78bn in 2015, Aramex’s global director of e-commerce, Hassan Mikail, told our sister publication, SMEinfo.me, in an interview last month. “In terms of the entire e-commerce sector across the Middle East region, the market grew by 29 per cent from $7bn in 2011 to $9b n in 2012. Aramex believes that the Middle East’s online commerce market will reach $15bn by 2015.”
According to eMarketer data, the Mea region’s B2C e-commerce sales are expected to reach $51.4bn by 2017.