Company raises $2.4 M to build technology
A press statement by the company disclosed that the funding round was led by American venture capital firm Greycroft, with participation from ten other investors including Seedcamp, Berrywood Capital, AVG Basecamp Fund, Practical VC, Plug and Play, and others.
The money will be used to develop/expand Klasha's technology infrastructure in order to continually enable seamless cross-border commerce in Africa. The startup helps international B2B and B2C e-commerce companies to receive online payments in African currencies, thereby relieving consumers of the stress often associated with making payments when shopping on sites like Amazon and Zara.
The company's Founder and CEO, Jess Anuna, had previously worked in some of the world's leading e-commerce companies such as Amazon and Shopify. So, she understands the dynamics of the ecosystem and what needs to be done to make cross-border commerce in Africa a lot better for everyone.
"By 2025, half of the world's population will live in Africa. At Klasha, we're building the technology to facilitate frictionless cross-border payments and allow international businesses to scale seamlessly into Africa through our API. Equally, we’re giving consumers in Africa the same access to the global e-commerce economy experienced on other continents. 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,” Jess said in a statement that was seen by Business Insider Africa.
Klasha was established in Lagos back in 2018 and is currently present in Kenya and Ghana. It plans to expand into three other African markets before the end of Q4 2021. It is expected that the $2.4 million seed funding will facilitate the expansion drive.