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African Startup Funding Tracker

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Nigeria’s Klasha Closes USD 2.1 Mn Seed Funding
Nigeria’s Klasha Closes USD 2.1 Mn Seed Funding

Klasha, a technology company based in Lagos and San Francisco, that offers multiple products for the cross-border commerce space in Africa has secured an additional USD 2.1 Mn to complete its USD 4.5 Mn seed round. The investment was secured from a group of Investors including Amex Ventures, Global Ventures, Greycroft, Seedcamp, Plug and Play, Berrywood Capital, and Breega.

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. The investment will be utilized to expand into five more African countries in 2022 and also re-launch its consumer app, renamed KlashaCart, to allow African consumers to shop from eligible international merchants online.