Klasha builds a payments platform and API stack that enables merchants and enterprises to collect, send, and hold exotic and hard currencies via virtual multi-currency accounts, collection and payout APIs, and cross-border wire services. The company focuses on seamless B2B payment rails between Asian and African markets and already works with Asian PSSPs and companies such as Coda Pay, Fomo Pay, Easy Transfer and the Chinese Chamber of Commerce in Yiwu. Klasha collects and sends over 120 currencies and targets fast terminations in multiple currencies at competitive prices. With the new funding it plans to expand its B2B cross-border payment capabilities in Asia, including opening a new office in Hangzhou, China. The company has obtained an MSB license to operate in the United States, authorizing it to act as a currency exchange and money transmitter. Founded in 2021 by Jess Anuna and based in San Francisco, Klasha has raised a total of $6.5M to date. Klasha provides a suite of business- and consumer-facing products connected via one API to streamline cross-border commerce in Africa. Its merchant products include KlashaCheckout (collect payments from six African countries and pay out in G20 currencies), KlashaWire (local-currency supplier payouts) and Payment Links for merchants without storefronts. On the consumer side Klasha offers virtual cards in Nigeria, Ghana and Kenya and a retail-facing app, KlashaCart, which is live in Nigeria and will expand to Kenya soon; the company also operates a logistics arm to deliver purchases. Klasha makes revenue through sales commissions and merchant subscriptions for analytics. The company reports growth of 20% month-on-month in merchant acquisitions and 17.5% month-on-month in transaction volume, has processed more than 210,000 transactions from over 1,700 merchants, and grown its consumer base to about 45,000 customers. Klasha plans to revamp its app to enable retailers such as ASOS, Zara and H&M to accept payments from African consumers and to expand its platform across more markets. Klasha offers a suite of payments and logistics products to help African consumers buy from international merchants and for merchants to accept African payments. Its core products include Klasha Checkout (local-currency checkout with bank, card, USSD, M-Pesa and mobile money), KlashaWire (settlements to merchants in dollars or euros) and payment links, plus a mobile app that issues virtual cards and supports send/receive in Nigeria, Ghana and Kenya. The company also manages logistics via third-party partners to deliver goods from Europe and the U.S. in roughly five to nine days. Klasha generates revenue from sales commissions and subscription fees for merchant analytics. Since a relaunch in May it has processed more than 20,000 transactions, reports 10,000 customers across Nigeria, Ghana and Kenya, and says it is growing 366% month-on-month. Klasha plans to expand into three more African countries before year-end and aims to help retailers such as ASOS, Zara and H&M accept payments from African consumers.

Total raised

$7M

Funding rounds

3

Latest round

Equity

Latest activity

Oct 2024