This partnership aims to simplify payment processes and strengthen business connectivity across the two regions. Asian merchants can now easily access Africa’s expanding market by leveraging Klasha’s payment infrastructure. 

The integration enables businesses to accept payments in various African local currencies, providing a more efficient and localised experience for consumers. 

Added to these, merchants can receive payouts in their preferred currencies, eliminating the usual complexities of foreign exchange and transaction delays.

Commenting on the partnership, Klasha CEO Jessica Anuna said the collaboration is an important milestone which will continually enable frictionless trade between Africa and the rest of the world. “We are excited to provide Asian businesses with the tools they need to expand into the African market, ensuring that local currency collections and fast payouts are no longer barriers to cross-border commerce.”

The partnership will leverage Africa’s fast-growing digital economy, which is projected to surpass $712 billion by 2025. With simplified payment solutions, the alliance allows businesses to tap into Africa’s diverse and dynamic consumer base while overcoming the logistical and financial limitations that often accompany international trade.

Michele Fung, general manager of LianLian Global, said: “We are excited to partner with Klasha to enable businesses across Asia and Africa. Our joint effort simplifies Asia-Africa trade and enables merchants to expand their footprint into Africa’s dynamic market. Together, we’re breaking down barriers to trade and offering real, tangible solutions for international growth.”

The partnership also reiterates Klasha’s focus on innovation in cross-border commerce, with features such as localised currency collections, competitive foreign exchange rates, and instant payouts. 

Justin Fan, managing director of Klasha’s Asia Operations, asserted the importance of this collaboration: “We are breaking barriers to trade, simplifying currency conversion, and ensuring Asian businesses can confidently expand into Africa.”

This partnership will ultimately open new opportunities for businesses, creating a seamless trade sector that connects Asia’s dynamic economies with Africa’s rich markets.

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.

Led by American Express (AMEX) Ventures, the strategic investment group of American Express and Global Ventures, a MENA-focused VC, the fund was raised from a group of international investors including Greycroft, Seedcamp, Plug and Play, Berrywood Capital and Breega.

Klasha is focused on helping merchants worldwide sell online to Africa and receive payments in local African currencies while enjoying super fast last-mile delivery to consumers across the continent.

Launched in 2021 and having a consumer base of about 45,000 customers, a 4x growth from last October, the startup serves businesses and consumers via its suite of products connected via one API. With its KlashaCheckout product, merchants outside Africa can collect payments from six countries including Nigeria, Zambia, Tanzania, Uganda, South Africa and Kenya. They get paid in G20 currencies such as dollars, pounds or euros. 

In these six countries, another of the startup’s products, KlashaWire, allows small merchants to pay suppliers in their local currencies, and these suppliers can also receive payments in their dominant currency within three days. Again, a third product, Payment Links enables merchants who don’t have storefronts to accept payments and share links with customers via email or social media.

The company affirms to be growing 20% month-on-month in merchant acquisitions and 17.5% in transaction volume. Klasha has processed more than 210,000 transactions from over 1,700 merchants. Its revenue is made via sales commissions and subscriptions paid by merchants to use the platform for analytics.

Last year, Klasha’s consumer product allowed users in Nigeria, Ghana and Kenya to create virtual cards, fund with their respective currencies and send and receive money. In an interview, Jessica Anuna, the company’s Founder, said Klasha would revamp the app to help retailers such as ASOS, Zara and H&M accept payments from African consumers.

The app, dubbed KlashaCart — which is only available in Nigeria — will allow consumers to shop from different retailers using naira and get their items delivered within 7-14 days via Klasha’s logistics arm. The platform will go live in Kenya in the next couple of months.