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Lagos and San Francisco-based startup, Klasha, has closed a $2,400,000 seed funding round led by Greycroft.
In the round, Klasha also welcomed the participation of investors such as Seedcamp, Practical VC, Plug and Play, First Round VC, 2.12 Angels, MiLA Capital, Berrywood Capital, AVG Basecamp Fund, and Expert Dojo. Angel investors who also participated include Joe Cross of Wise and Michael Pennington of Gumtree.
With the funds raised, Klasha plans to help retailers such as ASOS, Zara and H&M receive payments from African consumers. Included in its plan is expansion beyond its current reach in Nigeria, Ghana and Kenya, into three more African countries before the end of 2021.
Klasha is focused on putting Africa at the forefront of experiencing frictionless access to the global e-commerce economy experienced on other continents.
Founded in Lagos, Nigeria by a team who have garnered experience from Amazon, Shopify, Net-a-Porter and ASOS, Klasha was built on a goal to make online consumer goods more accessible to customers across Africa, even in underserved regions of the continent.
The company’s checkout solution allows international retailers and online providers to make sales with African merchants seamlessly, and accept payments online in local African currencies. Card payments, mobile money, bank transfer, M-Pesa and the Klasha Wallet are leveraged by the company.
The company also offers end-to-end logistics for retailers, tackling the complex maze of last-mile logistics in Africa and ensuring orders are received within required and adequate timing.
Klasha’s app allows consumers to generate virtual foreign currency cards to shop online or pay bills like international school fees or subscriptions like Netflix, Spotify or Apple music.
So far, the company asserts to have processed over 20,000 transactions, with a monthly growth rate of 366%. Klasha makes revenue via sales commissions and subscriptions paid by retailers leveraging its platform.
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