Klasha raises $2M to expand its B2B cross-border payment platform into China

By
James Musoba
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Klasha, a cross-border payments company, has raised an additional $2 million to provide cross-border payment services for merchants in Asia and Africa and fuel it’s expansion initiatives in Asia, including opening a new office in Hangzhou, China, the home of Alibaba, other major e-commerce players, and PSSPs.

Klasha’s existing investors Expert Dojo, Alumni Ventures, Practical VC, Breega, My Asia VC, Resilience17, and Magic Fund all participated in this round bringing Klasha’s total funding to $6.5M.

According to Jess Anuna, CEO of Klasha, “We’re thrilled to announce our latest funding round and investment into the Asian market. We already work with merchants at scale in the region and are looking forward to expanding our capabilities there, fostering more seamless B2B payments between the two continents. With this investment and the addition of Justin Fan, we are confident that we can tap into the immense B2B payment opportunities in the Asian market and drive sustainable growth for the company.“

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Klasha focuses on providing seamless cross-border B2B payment solutions between Asia and Africa through its virtual multi-currency accounts, collection, payout APIs, and cross-border wire services. It aims to address the evolving needs of sending and receiving payments between Asian and African markets while delivering fast terminations in a multitude of currencies at competitive prices.

Klasha works with many Asian PSSPs and companies such as Coda Pay, Fomo Pay, Easy Transfer and the Chinese Chamber of Commerce in Yiwu.

Brian Mac Mahon, Founder and CEO at Expert Dojo said: ”We’re excited to re-invest in Klasha at a time when they’re rapidly scaling into B2B payments between emerging markets and Asia, providing more seamless, faster payment rails to their global merchants.”

In addition to its expansion efforts, Klasha has obtained an MSB license to operate in the United States, further solidifying its position as a global payment provider. This license authorises Klasha to operate as a currency exchange and money transmitter in the United States.

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