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.
There are more than 400 million internet users in Africa and the continent’s total eCommerce value is expected to hit $29 billion next year.
“As a business, it is important that we not only build but move fast,” said Oloyede Oladimeji, CTO of Klasha, in the company announcement. “Every day, we are scaling our solution to solving a unique problem, connecting Africa to global merchants.
“Africa is a growing economy with huge potential but low card payment penetration, and we are enabling consumers in Africa to access products irrespective of their payment methods,” he said.
Related: Klasha’s New Links Let Firms Accept Cross-Border Funds
In July, Klasha debuted a no-code method for business-to-business (B2B) and business-to-consumer (B2C) merchants, among others, to accept payments: the Klasha Payment Link. The tool lets African customers pay international companies, even without an app, website or any coding knowledge.
Companies can use their KlashaDash dashboards to make a simple, tailored checkout page and clients can then make payments through their preferred payment method.
San Francisco-based cross-border know-how firm Klasha on Thursday (Oct. 7) introduced it has raised $2.4 million in seed funding that it plans to make use of to construct the mandatory know-how infrastructure for cross-border commerce in Africa, in line with a TechCabal report.
Greycroft led Klasha’s funding spherical, whereas Seedcamp, Berrywood Capital, AVG Basecamp Fund, Sensible VC, Plug and Play, First Spherical VC, Professional Dojo, 2.12 Angels, MiLA Capital and a number of other angel traders additionally participated within the effort.
Klasha will use the brand new cash to assist worldwide B2B and B2C companies absorb on-line funds in African currencies from shoppers throughout the continent and giving the retailers the cash of their most well-liked forex. It’s out there in Nigeria, Ghana and Kenya with plans so as to add three new international locations within the fourth quarter of this 12 months so as to add to the client base of 10,000 folks.
“By 2025, half of the world’s inhabitants will dwell in Africa,” Klasha Founder and CEO Jessica Anuna mentioned within the firm announcement. “It’s crucial that African shoppers are in a position to stay globally aggressive, which incorporates gaining access to the products they need with out fee or supply restrictions.”
Klasha has processed greater than 20,000 transactions throughout Africa since launching 5 months in the past, rising at a median charge of 366% from month to month.
There are greater than 400 million web customers in Africa and the continent’s complete eCommerce worth is predicted to hit $29 billion subsequent 12 months.
“As a enterprise, it is vital that we not solely construct however transfer quick,” mentioned Oloyede Oladimeji, CTO of Klasha, within the firm announcement. “On daily basis, we’re scaling our resolution to fixing a novel drawback, connecting Africa to international retailers.
“Africa is a rising economic system with enormous potential however low card fee penetration, and we’re enabling shoppers in Africa to entry merchandise regardless of their fee strategies,” he mentioned.
Associated: Klasha’s New Hyperlinks Let Companies Settle for Cross-Border Funds
In July, Klasha debuted a no-code methodology for business-to-business (B2B) and business-to-consumer (B2C) retailers, amongst others, to just accept funds: the Klasha Cost Hyperlink. The device lets African prospects pay worldwide corporations, even with out an app, web site or any coding data.
Corporations can use their KlashaDash dashboards to make a easy, tailor-made checkout web page and purchasers can then make funds by way of their most well-liked fee methodology.