The regulatory authorities of Sierra Leone have granted Klasha, a major global cross-border payments firm, a license to operate and provide its ground-breaking fintech services there.
In June of last year, the fintech company closed an extra $2.1 million to complete its $4.5 million seed round.
The startup, which was founded in 2021 and has a customer base of roughly 45,000 people—a 4x increase from last October—serves both enterprises and consumers through a suite of products connected by a single API. Merchants outside of Africa can now accept payments from Nigeria, Zambia, Tanzania, Uganda, South Africa, and Kenya using KlashaCheckout.
With this permit, Klasha will be able to conduct business in Sierra Leone and provide the people and companies of the nation its cutting-edge payment services.
The Bank of Sierra Leone’s decision to include Klasha in its regulatory sandbox program demonstrates the bank’s confidence in the company’s dedication to creating innovative cross-border financial technology solutions that improve the effectiveness, usability, and security of digital transactions and cross-border payments.
Jessica Anuna, the CEO of Klasha, said, expressed excitement about the license, noting that it will accelerate its growth and expand the firm’s reach in the Mano River Union.
“Sierra Leone is a dynamic and expanding market, and we look forward to collaborating with the Bank of Sierra Leone and other stakeholders to promote smooth cross-border transactions in the nation.”
The license for financial services in Sierra Leone was obtained by Klasha as part of a larger plan to increase the company’s footprint in Africa.
Klasha is well-positioned to overcome the difficulties of e-commerce in Africa and promote financial inclusion on the continent thanks to its innovative payment solutions.
Klasha is supported by American Express, Greycroft, and Seedcamp and has developed a payables and receivables solution for individuals and businesses that enables seamless financial flow between Africa and the rest of the world.
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