Klasha, a technology company based in Lagos and San Francisco, that offers multiple products for the cross-border commerce space in Africa has secured an additional $2.1 million to complete its $4.5 million seed round.
The fund was secured from a group Investors including Amex Ventures, Global Ventures, Greycroft, Seedcamp, Plug and Play, Berrywood Capital and Breega.
Jess Anuna, Founder and CEO of Klasha, said: “Given the fragmented cross-border commerce infrastructure on the continent, it is imperative for customers in Africa to access the global e-commerce economy seamlessly and without friction. Our latest funding will allow more businesses to seamlessly tap into the African market through our API, while simultaneously giving African consumers the same access to the global e-commerce economy as experienced internationally.
“We are delighted to have Amex Ventures’ investment and be backed by Global Ventures – one of the leading venture capital firms in the MEA region. It is another significant milestone for Klasha, following the first tranche of our seed round. We are excited by the huge market opportunity in Africa and what lies ahead.”
The investment will be utilised to expand into five more African countries in 2022 and also re-launch its consumer app – renamed KlashaCart – to allow African consumers to shop from eligible international merchants online.
KlashaCart which currently available in Nigeria , will allow consumers to shop from different retailers using naira and get their items delivered within 7-14 days via Klasha’s logistics arm. The platform will go live in Kenya in the next couple of months, said Anuna. Meanwhile, its consumer base has grown to about 45,000 customers, a 4x growth from last October.
The latest funding demonstrates Klashas commitment to improving commerce for Africans and simplifying cross-border payments so that businesses can expand into a market full of energized consumers.
Klasha has a suite of business- and consumer-facing products connected via one API. KlashaCheckout allows merchants outside Africa to collect payments from six countries on the continent — Nigeria, Zambia, Tanzania, Uganda, South Africa and Kenya — and get paid in G20 currencies like dollars, pounds or euros.
KlashaWire allows small merchants in these six countries to pay their suppliers in their local currencies. According to the company, these suppliers receive payments in their dominant currency in three days. With Payment Links, merchants who don’t have storefronts to accept payments can share links with customers via email or social media.
Launched in May 2021 by a team with combined experience at Amazon, PayPal, Mastercard, Shopify and Net-a-Porter, Klasha’s growth has been rapid. In less than a year, the Company has signed up over 1,700 merchants, processed over 210,000 transactions and is experiencing 15% MoM merchant growth.
“The core mission of Klasha is to streamline cross border commerce from Africa to the rest of the world. And in turn, give the rest of the world access to African consumers on the ground who want and need these goods globally.”