Klasha, based in Lagos and San Francisco, has raised an extra US $2.1 million to round up its US $4.5 million seed round on 7th June 2022. The startup, which offers a variety of cross-border commerce products across Africa, received new funding from a group of international investors led by American Express (AMEX) Ventures, the company’s strategic investment arm.

This is AMEX Ventures’ first investment in an African startup. Global Ventures, a MENA-focused VC financed by Tabby, Helium Health, and Paymob, co-led the deal alongside the business.

Greycroft, Seedcamp, Plug & Play, Berrywood Capital, and Breega, among others, doubled down on the company’s initial seed round.

What the founders have to say:

Klasha CEO Jessica Anuna:

 “I think AMEX is now investing in the continent, especially after investing in businesses like Stripe. The addition of Global Ventures is also significant for the company.

The most significant product development is this app, which allows these consumers to shop from select stores like Boohoo.com, pay with their Klasha wallet, which can be funded with several African currencies, and have their purchases delivered to their doorstep.

Klasha’s primary goal is to make cross-border trade between Africa and the rest of the globe more efficient. As a result, the rest of the world will have access to African consumers who desire and need these items worldwide.”

What the investors have to say:

Matt Sueoka- global head of Amex Ventures:

We’re excited to see how the company’s unique solutions might help African consumers access to commerce and make cross-border payments more manageable. Klasha has the potential to increase expenditure in emerging markets by making payments more accessible and allowing retailers to expand throughout the continent and beyond.”

About the company:

Klasha, founded three years ago and will start in 2021, is tapping into Africa’s cross-border e-commerce business, valued at more than US $25 billion. The company is working to resolve payment challenges that African retailers and consumers have when using various payment methods to purchase things online.

Klasha offers a number of business and consumer-facing solutions linked through a single API. KlashaCheckout enables businesses outside of Africa to accept payments from six African nations — Nigeria, Zambia, Tanzania, Uganda, South Africa, and Kenya — and receive payments in G20 currencies such as dollars, pounds, and euros. Small businesses in these six nations can use KlashaWire to pay their suppliers in their own money.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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