Africa-focused Klasha Startup Raises USD 2.4 Mn Investment

Klasha, a cross-border technology company, has announced that it has raised USD 2.4 Mn in seed funding that it plans to use to build the necessary technology infrastructure for cross-border commerce in Africa. 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 allows Africans to make online and offline purchases in their local currencies using cards, bank accounts, and mobile money providers like M-Pesa, while the merchants receive payment in their currencies in two business days. The startup also partners with third-party logistics companies to help merchants in Europe and the US ship to Africa in five to nine working days.