Klasha acquires MSB license to operate in Canada
With this license, Klasha can now provide financial services to businesses that want to accept payments from or send payments into Africa, in addition to foreign exchange transactions and payment processing.
Klasha, a leading global cross-border payments company, is pleased to announce that it has been granted a Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). This licence allows Klasha to operate as a money services business in Canada.
The MSB license granted to Klasha is an essential milestone for the company’s growth strategy. By obtaining this license, Klasha can now provide financial services to businesses that want to accept payments from or send payments into Africa, in addition to foreign exchange transactions and payment processing.
Klasha’s acquisition of the license aligns with the company’s mission to facilitate seamless online cross-border payments between Africa and the rest of the world by providing seamless, fast, and accessible online payment solutions.
We’re thrilled to have obtained the MSB license from FINTRAC. This license enables us to operate from Canada, allowing us to reach more global merchants who want to accept payments or send payments into Africa, said Jess Anuna, CEO of Klasha.
This represents a significant step towards expanding our footprint and delivering our cutting-edge payment services to merchants in one of the world's most dynamic economies.’’
Klasha has provided cross-border payment services in Africa since 2021 and has quickly become a leading player in the market. Klasha currently serves over 2500 merchants in six different African countries and is a licensed PSP in multiple African countries.
With the acquisition of the MSB license, Klasha is now poised to bring its innovative payment services to Canada, further expanding its reach and impact in the global payments market.
Klasha is a technology company that powers African payments for international companies to sell cross-border online to millions of African consumers. The company has built a payables and receivables solution for businesses and consumers that allows frictionless movement of payments between Africa and the rest of the world and is backed by American Express, Greycroft, and Seedcamp.
Founded in 2018, the Techstars backed company started as a fashion e-commerce company. It later transitioned into a company that builds payment integration for retailers. The payment API allows African consumers to buy from global retailers online in their local currencies and get their items shipped quickly to the continent.
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