AI
Saudi Arabia
UAE
EgyptCashfree Payments Secures $53M to Boost Digital Transactions in the Middle East
2 min
Cashfree Payments secured $53 million in a funding round led by KRAFTON, with support from Apis Partners.
The fintech firm is set to expand its operations in the UAE and across the wider Middle East.
Cashfree is leveraging its strategic partnership with UAE-based payments company Telr to enhance its services in the region.
With a strong presence in India, where it processes $80 billion in annual transactions, Cashfree aims to bring its expertise to new markets.
The company currently serves over 800,000 businesses and is pushing for a stronger global footprint.
Cashfree Payments, a rapidly growing Indian fintech company, has raised $53 million in a funding round led by South Korean digital entertainment powerhouse KRAFTON. The round also saw participation from Apis Growth Fund II, managed by the UK-based investment firm Apis Partners.
With digital payments gaining momentum across the Middle East, Cashfree sees the region as a prime market for expansion. A significant portion of this new investment will be directed toward strengthening the company’s footprint in the UAE and the broader MENA region.
To accelerate its regional growth, Cashfree is tapping into its existing partnership with Telr, a well-established UAE-based payments provider, said Akash Sinha, CEO and Co-founder of Cashfree Payments:
“We are particularly focused on expanding in the Middle East, leveraging our partnership with Telr, where we made a strategic investment three years ago”
The Middle East has seen a sharp rise in the adoption of digital payments, particularly in booming sectors such as e-commerce, travel, and remittances. Cashfree aims to capitalize on this shift, offering businesses and consumers seamless, efficient payment solutions.
While India remains its primary market—processing a staggering $80 billion in annual transactions—Cashfree is increasingly looking at international expansion as a major growth avenue. The company already serves 800,000 businesses, and with the latest funding, it is positioning itself as a global fintech player.
As the demand for cashless transactions continues to rise, Cashfree’s latest move underscores the growing competition in the digital payments space, particularly in regions where fintech innovation is reshaping everyday financial interactions. With this fresh injection of capital, the company is well on its way to becoming a key player in the Middle East’s rapidly evolving financial ecosystem.
