Klasha, backed by Greycroft, receives $2.4 million to enhance cross-border trade in Africa

Analysts estimate that the value of e-commerce in Africa would exceed $29 billion next year, yet Africans still struggle to make foreign payments for online purchases.

The most prevalent payment methods used by Africans include cards, M-Pesa, bank transfers, and mobile money. However, while many payment gateways have improved user experiences compared to, example, a decade ago, there is still more work to be done.

Klasha, a firm located in Lagos and San Francisco, identifies a need in cross-border commerce and offers numerous interfaces and APIs to help with transactions. It has already secured $2.4 million in early funding to help it scale.

Klasha was created by Jessica Anuna in 2018. The company’s goal at the time was to make it simpler for African customers to buy items directly from international fashion stores.

But, as she tells me, Klasha has grown into something more. It offers a number of features and a unique business strategy centred on assisting Africans in making payments and obtaining the items they desire (as long as they aren’t perishable) regardless of their location.

Consumers may use KlashaWire to pay in African currencies such as naira, cedis, and shillings, which Klasha then remits to merchants in dominant currencies such as the US dollar or euro in two business days.

Its payment connections function aids retailers who accept credit cards.

The checkout system, which operates similarly to Checkout, allows worldwide businesses to accept payments in local currencies from Africa. And, unlike Checkout or Fast, which only accepts international payment methods, Klasha accepts bank account, card, USSD, M-Pesa, and mobile money from Africans.

According to the business, Klasha Checkout may be implemented into any e-commerce platform. It offers plugins for well-known e-commerce platforms such as WooCommerce, OpenCart, and BigCommerce, and is expected to have an official relationship with BigCommerce, allowing it to reach out to even more merchants across the world.

Klasha is also involved in logistics in addition to payments. Anuna claims that by combining the worlds of payments and logistics, Klasha is allowing African consumers and merchants to effortlessly access the global e-commerce sector.

“A lot of our merchants have told us that if we want to take payments from Africa, we need a means to ship to Africa in a timely manner and give the greatest end-to-end logistical experience for our customers.” And that’s exactly what we’ve done,” said the CEO.

According to her, the logistics business assists African consumers in get their items from Europe or the United States in five to nine days through pax.

Klasha is implementing new strategies to help well known brands reach out to more merchants across the world.This will give them a different and great identity in the industry.My best wishes to them.

Shishir Gupta, Founder and CEO, StartupLanes

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