Pymnts - Klasha Snags $2.4M for African Cross-Border Commerce
San Francisco-based cross-border technology company Klasha on Thursday (Oct. 7) announced it has raised $2.4 million in seed funding that it plans to use to build the necessary technology infrastructure for cross-border commerce in Africa, according to a TechCabal report.
Greycroft led Klasha’s funding round, while Seedcamp, Berrywood Capital, AVG Basecamp Fund, Practical VC, Plug and Play, First Round VC, Expert Dojo, 2.12 Angels, MiLA Capital and several angel investors also participated in the effort.
Klasha will use the new money to help international B2B and B2C businesses take in online payments in African currencies from consumers across the continent and giving the merchants the money in their preferred currency. It’s available in Nigeria, Ghana and Kenya with plans to add three new countries in the fourth quarter of this year to add to the customer base of 10,000 people.
“By 2025, half of the world’s population will live in Africa,” Klasha Founder and CEO Jessica Anuna said in the company announcement. “It is imperative that African consumers are able to remain globally competitive, which includes having access to the goods they want without payment or delivery restrictions.”
Klasha has processed more than 20,000 transactions across Africa since launching five months ago, growing at an average rate of 366% from month to month.