Klasha
Overview
Klasha is a fintech startup founded in 2018 by Jess Anuna, specializing in seamless cross-border commerce solutions connecting international brands with African markets. Based in Lagos, Nigeria, and San Francisco, USA, Klasha facilitates B2B and B2C transactions through innovative payment and logistics services. The company has raised a total of $6.5 million over various funding rounds from investors including Amex Ventures, Greycroft, and Seedcamp.
Recent Developments
- October 2024: Klasha secured an additional $2 million in funding to enhance its cross-border payment solutions. This funding round, supported by investors such as Expert Dojo and Magic Fund, will be used to expand its B2B payment rails in Asia, including opening a new office in Hangzhou, China.
- October 2024: Klasha announced a partnership with EasyTransfer, a Singapore-based fintech firm, to streamline global tuition payments for African students, enabling payment in local currencies like the Nigerian Naira while receiving payouts in USD.
- August 2024: Klasha launched multi-currency accounts designed to simplify cross-border payments for global merchants. These accounts allow businesses to transact in over 50 currencies, enhancing Klasha’s mission of facilitating frictionless trade across borders.
- February 2024: A strategic partnership was formed with FOMO Pay to facilitate cross-border transactions between Africa and Asia, empowering merchants to expand into new markets by receiving payments in local African currencies.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Lagos, Nigeria; San Francisco, USA |
| Founders | Jess Anuna |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Amex Ventures, Greycroft, Seedcamp |
| Industry | Fintech/Payments |
| Number of Employees | Approximately 200 as of 2022 |
Early History
Klasha began its operations in 2018 aiming to address the complexities of cross-border commerce in Africa. Founded by Jess Anuna, who had the vision to connect African consumers to global markets effortlessly, the company initially focused on allowing international fashion retailers to sell directly to African consumers. Through API integrations, Klasha enabled merchants to accept payments in various African currencies, breaking down traditional barriers in cross-border transactions. The first few years saw rapid growth, with the team expanding into logistics to ensure fast delivery of goods from global merchants to African consumers.
Company Profile and Achievements
Klasha positions itself as a bridge between African consumers and global markets, offering a range of services that simplify cross-border transactions. Its key products include:
- KlashaCheckout: Allows international merchants to collect payments from African countries in local currencies.
- Payment Links: Enable merchants without e-commerce sites to receive payments online.
- KlashaWire: Allows B2B transactions, enabling African businesses to pay suppliers globally.
- Multi-currency Accounts: Facilitate payments in over 50 currencies, enhancing ease for global trade. Major achievements include securing significant funding rounds, forming strategic partnerships with fintech giants like FOMO Pay, and expansion into multiple African and Asian markets.
Current Operations and Market Position
Klasha continues to refine its offerings to serve the growing e-commerce landscape in Africa. It operates primarily in Nigeria, South Africa, Kenya, Tanzania, Uganda, and Zambia, focusing on both end-to-end payment solutions and logistics. The company has positioned itself as a leader in cross-border payments, simplifying the process for both consumers and merchants. Klasha’s competitive advantage lies in its ability to provide diverse payment methods tailored to local preferences, thereby facilitating smoother transactions across borders.
Conclusion
Klasha has established itself as a pioneering force in the fintech sector, enabling frictionless cross-border transactions for African markets. With its innovative suite of products and expanding geographical presence, Klasha is well-positioned to capitalize on the burgeoning e-commerce sector in Africa. The company’s future trajectory looks promising as it continues to attract international investors and forge strategic partnerships that enhance its capabilities and market reach.