FinExtra: American Express Ventures makes first African investment

Klasha, a San Francisco and Lagos-based technology company transforming cross-border African commerce, announces an additional $2.1 million fundraise - to complete its $4.5 million seed round.

The funding round included Amex Ventures - its first investment in an African-focused startup. Klasha’s funding round also included Global Ventures, a leading MEA-focused venture capital firm.

Klasha will use the proceeds to expand into five more African countries in 2022 and re-launch its consumer app - renamed KlashaCart - to allow African consumers to shop from eligible international merchants online.

Klasha’s core checkout technology benefits consumers and merchants. It allows African consumers to pay international online merchants in African currencies and money methods at checkout and then have their goods shipped to the continent. Merchants receive payouts in G20 currencies and are empowered to expand into Africa by equipping them with the requisite payment tools.

Read more here.