Klasha provides a cross‑border payment platform that lets businesses in Africa send and receive funds across Asia using local currencies, USD, EUR, or CNY.
Funding
$2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses in Africa face high friction when paying suppliers, partners, or service providers in Asian markets due to limited access to local payment methods, opaque foreign‑exchange rates, and unpredictable settlement times. This hampers trade and increases operational costs for companies that need to move funds across emerging markets.
Solution
Klasha offers a cross‑border payment platform that connects African merchants with Asian partners through a single API. The service converts local African currencies into CNY (or other Asian currencies) at transparent, competitive FX rates and delivers funds to bank accounts or mobile wallets in the destination market. Payments are settled in the merchant’s preferred global currency (USD, EUR, or CNY) with predictable settlement windows (T+1 for Nigeria, T+3 for other regions). Klasha also provides a payment gateway (Klasha Pay) for collecting local payments from African customers and a wire service (Klasha Wire) for outbound payouts, all backed by PCI‑DSS and ISO‑27001 compliance.
Target Audience
Primary customers are African e‑commerce merchants, importers, and service providers that need to pay suppliers or receive payments from partners in Asian markets, as well as fintech platforms seeking a ready‑made cross‑border payment solution.
Features
- API‑driven integration for both inbound pay‑ins and outbound payouts, supporting multiple African payment methods (cards, bank transfers, USSD, M‑Pay, mobile money)
- Automatic currency conversion with transparent FX rates and real‑time rate display
- Predictable settlement timelines (T+1 for Nigeria, T+3 for other African countries) and instant local‑currency settlement into bank accounts or mobile wallets
- Separate products: Klasha Pay for local collection and Klasha Wire for supplier payments, each with configurable transaction fees
- PCI‑DSS and ISO‑27001 compliance, two‑factor authentication, and extensive KYC to ensure secure, fraud‑protected transactions
- Support for major Asian corridors (China, Hong Kong, and broader Asia) with payouts available in USD, EUR, or CNY