Tech in Africa
San Francisco and Nigeria-based Klasha has raised $2.4 million in a round led by Greycroft to scale its offering. The startup is offering a cross-border commerce platform providing multiple integrations and APIs that facilitate transactions in this space.
Klasha was founded in 2018 by Jessica Anuna and launched in Nigeria in May 2021 to ease the Africa consumer purchase products directly from other global fashion retailers. Klasha can be likened to Checkout, allowing international merchants to collect payments from Africans through the existing local currencies. Klasha accepts USSD, bank account, mobile money, and card payments. The startup is also launching into Ghana’s $429 million e-commerce economy that is expected to rise to $811 million by 2024.
Jess Anuna, the CEO of Klasha pointed out how their solution will “simplify the process, removing payment and last-mile delivery barriers, making it easier and faster for retailers to collect online payments in Ghana.”
Klasha mobile app can now be downloaded in Ghana with additional functionalities particularly the instant money transfer between Ghana and Nigeria. A recently introduced multi-currency wallet offers users the option to hold, exchange and send money of different currencies at a free rate.
Klasha Marketing Manager, Edidiong Ekong said that Klasha will “expand to more countries to facilitate seamless e-commerce and cross-border payments.”
As per a 2017 report by Statista, the value of e-commerce in the continent is valued at $16.5 billion. Another report by McKinsey, a consulting firm shows that this value will shoot up to $75 million by 2025.
In the sectors of e-commerce, markets in Europe and the USA rank higher than in African countries, however, online shopping is gaining serious traction in the continent. A rapid internet adoption rate through the use of smartphones has contributed to the growth of Africa’s e-commerce in countries such as Nigeria, South Africa, and Kenya.
