Pakistan's first messaging app TelloTalk has been able to receive $ 16 million round-the-clock funding.
Messaging platform TelloTalk has announced the acquisition of $ 16 million in funding from a consortium of international and domestic investors.
The seed round is the local level investor firm with global venture funds ALM Holdings (United Arab Emirates), Spark Labs Fin-Tech (Asia), One Market Capital (USA) and Coconut Ignite Ventures (Hong Kong). PLE Ventures and I to I Ventures.
Shahbaz Jamot, co-founder and CEO of TelloTalk, said: "We are delighted to receive the trust and support of our mission from experienced foreign and local venture capital investors. Pakistanis own messaging application TelloTalk is the only local messaging application specially designed for Pakistanis and all our own technology and management infrastructure is present in Pakistan. TeleTalk is available to all types of businesses that can improve performance through multimedia chat channels and communicate with internal communications or customers. TelloTalk is the only messaging application that fully complies with local laws to provide important services such as digital payments and e-government. We hope that by joining more services, more Pakistanis will be able to enjoy TelloTalk with their friends and family. '
"There are more social media accounts than bank accounts in Pakistan," said Arshad Ashraf, chairman of TelloTalk. Pakistan's 15 million population is under 30 years of age, so in Pakistan, they need to be connected to the digital world in which they can easily use technology. We are fully convinced that the presence of our social networking platform is a matter of national importance and we can truly call it our platform. '
“Local-level messaging platforms are extremely successful at the national level,” said Sameer Chishti, who represented Spark Labs Fin-Tech as a partner at Seed Round. Similar to WeChat in China and KokuTalk in Korea, TelloTalk is of immense importance for Pakistan, which is capable of providing connectivity, content sharing, commerce, and corporate services with a highly functional messaging platform at the national level. Spark Labs has already invested in about 300 tech startups globally, and this will be our fourth investment in Pakistan. '
This is the first investment in Pakistan for most international investors in seed rounds. The funds are being planned for marketing and advertising, expanding infrastructure and utilizing them for product development.
Introduction to TelloTalk
Beginning in the year 2017, TelloTalk is Pakistan's first and locally developed messaging application. TelloTalk empowers its users by providing them with features beyond the messaging feature and connects them in a new and comprehensive way in the digital arena through four areas of communication, content, commerce and community-specific services.
Proudly developed by Pakistan, TelloTalk is a robust and feature-rich messaging application platform that enhances the interaction between two people and businesses and customers.
TelloTalk Telco Multimedia Messaging extends business beyond traditional mobile connections to customers in need