Telr and LNDDO partner to enable Merchants to get quick and easy access to working capital loans

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SMEs can access funding in days

Apply online and receive a credit decision in minutes with loan limits and tenure.

Limits Up to 100K USD

Zero collateral

Ashraf Ghazaly, Founder and CEO of LNDDO

Abu Dhabi, United Arab Emirates: Telr the UAE-based online payment gateway and LNDDO Digital Lending Limited (LNDDO), the first licensed digital SME focussed lender in the UAE and MENA region have collaborated and launched a new credit facility program for small and medium enterprises (SMEs) Telr merchants called “Telr Finance” . 

LNDDO provides entrepreneurs with quick and easy access to working capital loans to grow and expand their businesses and is officially authorised and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM) jurisdiction.

The new financing partnership with LNDDO aims to finance Telr’s SME merchants get an instant pre-approval based on their e-commerce sales generated through the payment gateway with the pre-approved funds credited to their account within a week.

Eligible Telr merchants will access the credit facility by applying online through LNDDO’s web or mobile application and benefit from LNDDO’s quick credit assessment cycle. The new financing service “Telr Finance” will enable more SMEs to leverage e-commerce and digital payment development to support business continuity and growth, which aligns perfectly with the UAE’s vision to achieve a cashless society by 2021.

“Telr Finance” in collaboration with LNDDO will finance eligible SMEs to access funding of up to 100,000 US dollars. The new financing program offers loans for 3-12 months with attractive rates and with repayments easily deducted from each business’s day-to-day transactions. This will prove crucial for SMEs currently facing liquidity challenges or looking to fund expansion. “Telr Finance” will allow them to continue and expand their operations, such as purchasing new and additional inventory and servicing new orders, all while maintaining an optimized cash cycle.

LNDDO’s online application and financing capabilities powers Telr’s new financing service. It is designed to give Telr’s clientele and SME merchants quick access to funds through a user-friendly online application requiring applicants to only enter basic business information. After LNDDO’s advanced credit assessment algorithm has reviewed the business performance, qualified SMEs will be provided with a decision on how much working capital loans they are eligible for within 10 minutes. 

Khalil Alami, Founder and CEO of Telr, said: “SMEs are known to be the foundation of every country’s economic growth. Sufficient funding is key in helping these enterprises to thrive, and Telr’s new financing program “Telr Finance”, in partnership with LNDDO, will enable this segment to flourish and grow.” Alami also added: “Many SMEs in the region are looking for instant funding to help them recover from the COVID-19 pandemic. It is where the fintech industry comes in. Fintech companies, including Telr and LNDDO, are supporting the growth of SMEs by offering different solutions to financing SMEs, including much-needed capital. Telr is always committed to introducing new services that support its merchants and enables them to grow”.

Meanwhile, Ashraf Ghazaly, Founder and CEO of LNDDO, commented: “We are looking forward to launching our lending services with Telr and presenting our digital lending solution that’s specifically created to help SMEs, support, and expand the region’s credit capacity.  SMEs represent most of the companies in the region and contribute significantly to employment and GDP; however, they are grossly underrepresented in accessing credit solutions to finance their businesses.

We want to make the process of getting a business loan totally inclusive and easily accessible to all. Given that the pandemic has led to an extreme increase in digital transactions across the globe, we feel that now is a very appropriate time to launch our business, and Telr is a great partner for us. By combining both our payment and lending capabilities, we want to change the landscape of the region’s SME lending industry scene and start a new trend in providing digital financing products.”

About LNDDO:

LNDDO is the first licensed direct digital lender in the UAE and MENA region. Launched in 2021, it is officially authorised by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM).  

LNDDO intends to build trust in its digital lending solutions by addressing specific pain points that affect many merchants lives. Allowing businesses to grow by accessing finance in minutes, LNDDO’s value proposition is centered around digitizing the merchant’s borrowing journey through a fully online onboarding process. The company uses advanced analytics to analyze its customers’ information to underwrite credit risks. 

A digital lending service that focuses on helping small to medium-sized businesses grow, prosper and recover from the difficulties of the COVID-19 pandemic, it aims to encourage creativity and original ideas, and strengthen the UAE’s economy as a whole. 

Specializing in flexible, short-term loans that businesses may use for essential equipment, adding fresh inventory, augmenting services or optimizing cash cycles, LNDDO’s unique selling point is its quick and easy application process where a decision is provided within minutes. By visiting the LNDDO app or downloading LNDDO’s iOS or Android mobile application, businesses can get their loan approved online in minutes, and receive their desired funds within one week.   

About Telr:

Established in 2014, Telr is an award-winning, Dubai-based start-up offering payment gateway solutions for SME’s, government bodies and large corporates. Its wholly owned, unique platform enables it to handle complex or unique payment methods or integrations. TELR was awarded with the prestigious Startup of the Year award in 2014. In 2015 Telr also won Best Payment Product in the Middle East award, whilst in 2017 it was awarded Innovative Vendor – Fintech at the 2017 GEC Awards in Dubai. With a fast-growing presence in the UAE, Saudi Arabia. TELR is building a wider regional presence in the MENA Region. TELR enables businesses to transact in over 120 currencies with payment platform capabilities in 30 languages and it provides customers with a range of financial and business services that include social commerce, QR Codes, anti-fraud protection, Shopping Cart Integrations, and digital invoicing. TELR is the first PCI DSS Level 1 certified company in MENA (payment security standards council).