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June 8, 2022

Hitech Glitz: Nigerian startup Klasha raises additional $2.1 million for its cross-border trading – TechCrunch

Lagos and San Francisco-based Klasha has raised an additional $2.1 million to complete its $4.5 million seed round. The startup, which offers multiple products for cross-border commerce in Africa, has received this new funding from a group of international investors co-led by American Express (AMEX) Ventures, American Express’ strategic investment group.

This investment is AMEX Ventures’ first in an African startup. The company co-led the round with Global Ventures, the MENA-focused VC that has backed companies including Tabby, Helium Health and Paymob. “I think the fact that AMEX is now investing in the continent, especially after investing in companies like Stripe, is really strong,”

; Klasha CEO Jessica Anuna told TechCrunch, adding that Global Ventures’ entry is also noteworthy for the company.

Investors from the first seed tranche such as Greycroft, Seedcamp, Plug and Play, Berrywood Capital and Breega doubled.

Klasha was founded three years ago and launched in 2021. Klasha is breaking into the cross-border space of Africa in a massive e-commerce market valued at over $25 billion. The startup solves payment problems faced by African merchants and consumers when paying for products online using different payment methods.


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