Nigerian Woman-Led Fintech Raises $2M To Bridge Africa-Asia B2B Payments Gap

Klasha, the fintech company changing cross-border B2B payments between Africa and Asia, has raised an additional $2 million in funding. 

This latest investment round, backed by existing investors such as Expert Dojo, Alumni Ventures, and Breega, brings Klasha’s total funding to $6.5 million. 

The new capital will be used to accelerate its expansion into the Asian market, including opening an office in Hangzhou, China, the hub of e-commerce giants like Alibaba.

Scaling Payment Solutions for Emerging Markets

With a focus on enabling seamless cross-border payments between merchants in Africa and Asia, Klasha’s ecosystem offers multi-currency virtual accounts, payout APIs, and cross-border wire services. 

The additional funding will enhance the company’s ability to address the complexities of sending and receiving payments between these two regions.

“We’re thrilled to announce our latest funding round and continued investment in the Asian market,” said Klasha CEO Jess Anuna in a press release.

“This new capital will allow us to expand our operations and better serve merchants at scale, fostering easier and faster B2B payments between the two continents.”

Expanding Footprint in China and Beyond

As part of its Asian expansion strategy, Klasha is preparing to open a new office in Hangzhou. 

The company already partners with several key Asian payment service providers (PSSPs), including Coda Pay and Fomo Pay. 

This move into China positions Klasha to tap into one of the world’s largest B2B markets and further increases its role in connecting African merchants with their Asian counterparts.

In addition to its expansion in China, Klasha has secured a Money Services Business (MSB) license in the United States. 

This allows the company to operate as a currency exchange and money transmitter in the U.S., expanding its global reach even further.

CEO’s Vision for the Future

Klasha’s long-term goal is to simplify and speed up cross-border transactions between emerging markets, ensuring that merchants can easily conduct business without the hurdles typically associated with international payments. 

“We’re excited to reinvest in Klasha as they continue to grow, enabling faster and more seamless payment solutions for global merchants,” said Brian Mac Mahon, CEO of Expert Dojo.

Feature Image Credit: Empower Africa