Ecommerce Age: Klasha closes $4.5M seed fundraising round to expand cross-border commerce in Africa
Klasha, a San Francisco and Lagos-based technology company transforming cross-border African commerce, has secured additional funding of $2.1 million 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.
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.”
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.