Klasha, a fast-growing fintech company specializing in cross-border payment solutions, has successfully raised an additional $2 million in funding to bolster its B2B payment services between Africa and Asia. This recent financing round, which brings Klasha's total funding to $6.5 million, was backed by existing investors who demonstrated their continued confidence in the company's vision and operational capabilities in a competitive market.

Expanding Payment Solutions Across Continents

The new funding will be instrumental in advancing Klasha’s strategic initiatives, particularly in expanding its footprint in Asia. With plans to establish a new office in Hangzhou, China, Klasha aims to enhance its collaboration with major e-commerce players, payment service providers, and technology hubs. This move aligns with Klasha's mission to provide seamless payment solutions that facilitate efficient B2B transactions between Asian and African merchants.

Klasha has developed a robust ecosystem of payment rails designed to streamline cross-border payments. By leveraging virtual multi-currency accounts, collection and payout APIs, and cross-border wire services, the company aims to meet the evolving demands of businesses engaged in trade between these two dynamic markets. Klasha's focus is on delivering fast and affordable payment solutions that support transactions in various currencies.

Building on Existing Partnerships

Currently, Klasha has established partnerships with several Asian payment service providers (PSPs) and companies, including Coda Pay, Fomo Pay, Easy Transfer, and the Chinese Chamber of Commerce in Yiwu. This network will be further expanded as Klasha enhances its service offerings in the Asian market. Jess Anuna, CEO of Klasha, expressed enthusiasm about the recent funding round, emphasizing the company's commitment to improving B2B payment processes between Africa and Asia.

"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," said Anuna. "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."

Support from Investors

The funding round has garnered support from notable investors, including Expert Dojo, Alumni Ventures, Practical VC, Breega, My Asia VC, Resilience17, and Magic Fund. Brian Mac Mahon, the Founder and CEO at Expert Dojo, remarked on the significance of Klasha's growth trajectory, stating, "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."

Regulatory Advances and Future Plans

In addition to its expansion efforts in Asia, Klasha has also achieved a significant milestone by obtaining a Money Services Business (MSB) license in the United States. This license allows Klasha to operate as a currency exchange and money transmitter, further solidifying its position as a comprehensive global payment provider. The MSB license is a critical component of Klasha's strategy to enhance its service offerings and ensure compliance with international regulatory standards.

As Klasha continues to grow and innovate, the company is well-positioned to play a crucial role in the evolving landscape of cross-border payments between Africa and Asia. The recent funding, coupled with strategic partnerships and regulatory advancements, sets the stage for Klasha to enhance its capabilities and deliver exceptional value to merchants across both continents. With a clear focus on facilitating seamless and efficient payment solutions, Klasha is poised to make a significant impact in the global B2B payments sector.