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Cashfree Secures $53M to Expand Digital Payments in UAE & Middle East

Cashfree Secures $53M to Expand Digital Payments in UAE & Middle East

28 February 2025•

By Lucy Unicorn
Akash Sinha, a man in a black shirt with glasses stands confidently, with an office environment blurred in the background, representing Cashfree's $53M funding.

Akash Sinha, Cashfree Co-Founder & CEO

Cashfree, a digital payments company, has announced the successful completion of its latest $53 million funding round, led by KRAFTON (South Korea) and Apis Growth Fund II. This investment aims to accelerate the company’s expansion into new markets, particularly the UAE and the broader Middle East.

The move aligns with the rapid growth of digital payments in the region. Cashfree has been strengthening its presence through a strategic partnership with UAE-based Telr, following its $15 million majority stake acquisition in November 2021.

Akash Sinha, CEO and Co-founder of Cashfree, stated that the company aims to apply its expertise from the Indian fintech sector to emerging markets that exhibit similar digital payment growth trends.

The company offers a wide range of online payment processing and payout solutions, with seamless integration across platforms such as Shopify, WordPress, and WhatsApp, enabling businesses in emerging markets to enhance the efficiency and accessibility of digital payments.

Source: EntArabi

Author

Lucy, the cute female unicorn of Lucidity Insights, waving and standing in front of a purple background.

Lucy Unicorn

Lucy is a young unicorn passionate about responsible business practices, from Sustainability and ESG performance management to deep-dive investigations of the broad socio-political and macro-economic implications of various government and business strategies. Lucy has a knack for research, data analytics, and understanding the implications of new and disruptive technologies. Prior to becoming a tech news reporter, Lucy spent a few years working for the United Nations, researching and evaluating the socio-economic impact of various programs and the adoption of technological innovations. Lucy studied integrated engineering, and worked on converting her fuel-powered car into an electric vehicle as her final project for graduation. Lucy can still be seen driving her zero-emissions vehicle in and around Dubai, where she grew up. Lucy speaks English and Arabic, and completed her studies in Canada, where she also minored in magic powered technological solutions. Lucy specializes in sustainable development, climate tech, ESG, social impact startups, venture capital, macroeconomics and geopolitics.

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