Klasha Secures $2M to Boost Asia-Africa Payment Expansion, Opens New Office in China

Klasha, a cross-border payments startup simplifying transactions for businesses in emerging markets has raised an additional $2 million in funding, bringing its total investment to $6.5 million. 

The fund will drive the company’s expansion, particularly in Asia, where it plans to open a new office in Hangzhou, China; a known hub for e-commerce and payment service providers (PSSPs), home to major companies like Alibaba. 

Klasha also aims to strengthen its B2B payment solutions, offering businesses the ability to send and receive payments across Africa and Asia more efficiently.

Existing investors in the round included Expert Dojo, Alumni Ventures, Practical VC, Breega, My Asia VC, Resilience17, and Magic Fund. Brian Mac Mahon, founder and CEO of 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.”

Klasha’s platform supports payout and collection APIs, enabling businesses to pay partners in local African currencies such as NGN, KES, and UGX, while paying in USD, EUR, or CNY. 

This eliminates the challenges of currency exchange, allowing businesses to process payments swiftly to bank accounts or mobile wallets.

Again, Klasha’s Payment Links service allows businesses without e-commerce stores to collect payments online from African customers, receiving payouts in their chosen currency without needing a website or complex technical setup. 

Klasha Wire offers another key solution for businesses, enabling them to pay global suppliers from emerging markets in local currencies, with no hidden fees or monthly charges. Payments are typically settled within one to three business days, providing a reliable solution for international transactions.

Klasha is focused on ensuring high security for all transactions, with compliance to PCI-DSS and ISO-270001 standards. Its platform includes advanced Know Your Customer (KYC) verification, two-factor authentication, and regular audits to maintain transparency and protect users’ data. 

The company is also regulated in multiple jurisdictions, further strengthening its position in the global payments industry.

In addition to its Asian expansion, Klasha has obtained a Money Services Business (MSB) license in the United States, allowing it to operate as a currency exchange and money transmitter. This strengthens Klasha’s presence as a global payment facilitator, expanding its reach beyond Africa and Asia.

Jess Anuna, CEO of Klasha, commented on the latest developments: “We’re thrilled to announce our latest funding round and investment into the Asian market. 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.”

Currently, Klasha serves over 10,000 merchants and has processed more than 140 million transactions across emerging markets.

The company’s growth is supported by partnerships with major Asian PSSPs such as Coda Pay, Fomo Pay, and Easy Transfer, and it continues to deliver competitive foreign exchange rates and faster transaction times for businesses globally.