TelloTalk, Pakistan’s homegrown messaging platform, announced that it has raised USD1,600,000 in funding from a consortium of international and domestic investors.
The Seed Round includes global venture funds ALM Holdings (UAE), SparkLabsFinTech (Asia), One Market Capital (USA)and Cocoon Ignite Ventures (Hong Kong), as well as local institutional investors TPL eVentures, and i2i Ventures.
Shahbaz Jamote, Co-Founder and CEO of TelloTalk said, “We are delighted to have experienced foreign and local venture capital investors believe in us and support our mission. Pakistanis have a choice in messaging apps – TelloTalk is the single best local messaging app, customized for Pakistanis, fully committed to Pakistan, with all our technology and management infrastructure present in Pakistan.
TelloTalk understands our local culture and values, for example we provide our users with regional language keyboard, localized stickers and integrated content across a variety of categories.
TelloTalk is also available to corporations of all sizes, for productivity improvement, internal communications or customer interactions via multimedia chat channels. TelloTalk is the only messaging app that fully complies with local regulations to enable critical services such as digital payments and eGovernment.
We look forward to adding even more services and have even more Pakistanis enjoying TelloTalk with their friends and families”.
TelloTalk’sChairman, Arshad Ashraf added: “There are more social media accounts in Pakistan than there are bank accounts. With 150 million Pakistanis below the age of 30, it makes sense to digital connect the unconnected in Pakistan with a technology they are comfortable using.
We strongly believe it is a matter of national importance to have a social networking platform that we can truly call our own. At TelloTalk, we aspire to digitize the economy of Pakistan and unleash the incredible creativity and talent of our nation’s youth.”