Klasha raises an additional $2 million to expand B2B cross-border payment rails into China
In addition to its expansion efforts, Klasha has obtained an MSB license to operate in the United States, further solidifying its position as a global payment provider.
[San Francisco, USA, October 2024]—Klasha, a leading global cross-border payments company, is thrilled to announce that it has successfully raised an additional $2 million in funding to provide cross-border payment services for merchants in Asia and Africa to collect and send B2B payments to and from Asia through Klasha’s ecosystem of payment rails. Klasha’s existing investors doubled down on their investment, renewing their confidence in the company’s vision and ability to execute in a competitive market— Expert Dojo, Alumni Ventures, Practical VC, Breega, My Asia VC, Resilience17, and Magic Fund all participated in this round. This brings Klasha’s total funding to $6.5M.
The additional investment will fuel Klasha's expansion initiatives in Asia, including opening a new office in Hangzhou, China, the home of Alibaba, other major e-commerce players, and PSSPs. Klasha focuses on providing seamless cross-border B2B payment solutions between Asia and Africa through its virtual multi-currency accounts, collection, payout APIs, and cross-border wire services. It aims to address the evolving needs of sending and receiving payments between Asian and African markets while delivering fast terminations in a multitude of currencies at competitive prices.
Today, Klasha already works with many Asian PSSPs and companies such as Coda Pay, Fomo Pay, Easy Transfer and the Chinese Chamber of Commerce in Yiwu. Jess Anuna, CEO of Klasha, said, "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."
Brian Mac Mahon, Founder and CEO at 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.''
In addition to its expansion efforts, Klasha has obtained an MSB license to operate in the United States, further solidifying its position as a global payment provider. This license authorises Klasha to operate as a currency exchange and money transmitter in the United States.
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About Klasha
Klasha is a global technology company building a platform and APIs to move money to and from emerging markets frictionlessly. With Klasha, businesses can collect, send money and hold exotic and hard currencies through our extensive API stack. Enterprise businesses use our rails and infrastructure to power their cross-border payments. Founded in 2021 by Jess Anuna, Klasha collects and sends over 120 currencies, saving merchants time and money.
Klasha is backed by American Express, Greycroft, Seedcamp, and Global Ventures.
For more information about Klasha and its payment services, visit their website at klasha.com.
For media inquiries, press@klasha.com.
