Nigerian fintech, Klasha, says it has raised an additional $2 million in funding bringing the company’s total funding to $6.5 million.
According to Klasha, the funding boost will support its business operations, providing cross-border payment services for merchants in Asia and Africa to collect and send B2B payments to and from Asia through its ecosystem of payment rails.
The round saw the participation of Klasha’s existing investors:
- Expert Dojo
- Alumni Ventures
- Practical VC
- Breega
- My Asia VC
- Resilience17, and
- Magic Fund
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As a result, Klasha says it will be opening a new office in Hangzhou, China, the home of Alibaba, other major e-commerce players, and PSSPs.
Klasha also said it has obtained a Money Service Business license (MSB) to operate in the United States, further solidifying our position as a global payment provider. This license authorises Klasha to operate as a currency exchange and money transmitter in the United States.
Klasha focuses on providing seamless cross-border B2B payment solutions between Asia and Africa through its virtual multi-currency accounts, collection, payout APIs, and cross-border wire services. The company aims to address the evolving needs of sending and receiving payments between Asian and African markets while delivering fast terminations in a multitude of currencies at competitive prices.
Klasha already works with many Asian PSSPs and companies, such as:
- Coda Pay
- Fomo Pay
- Easy Transfer and
- The Chinese Chamber of Commerce in Yiwu.
“We already work with merchants at scale in the region and are looking forward to expanding our capabilities there, fostering more seamless B2B payments between the two continents.
With this investment and the addition of Justin Fan, we are confident that we can tap into the immense B2B payment opportunities in the Asian market and drive sustainable growth for the company,” said Klasha CEO, Jess Anuna.
Brian Mac Mahon, Founder and CEO at Expert Dojo, said:
”We’re excited to re-invest in Klasha at a time when they’re rapidly scaling into B2B payments between emerging markets and Asia, providing more seamless, faster payment rails to their global merchants.”
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