Backed by Greycroft, Klasha gets $2.4M to improve cross-border commerce in Africa

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The value of e-commerce in Africa, say analysts have hope Due to reach $29 billion next year, Africans still find it difficult to make international payments for products online.

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Cards, M-Pesa, bank transfer and mobile money are the most common methods used by Africans to make payments. But while various payment gateways have delivered better experiences than they were a decade ago, more work remains to be done. finish off.

clash, a Lagos and San Francisco-based startup, sees a niche in cross-border commerce and offers multiple integrations and APIs to facilitate transactions in that location. today it Raised $2.4 million in Seed to Scale.

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Jessica Anuna Established Clasha in 2018. At the time, the company’s focus was to make it easier for African consumers. Negotiate products straight from global fashion retailers.

But Claisha is so much more than that now, she tells me. It has many features and a new business model focused About helping Africans pay and get the stuff they love (unless they’re screwed), regardless of their location.

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With Clashwire, consumers can pay with African currencies: Naira, Cedis, Shilling – Via Diverse payment methods that Clasha then sends traders over two business days in major currencies such as the US Dollar or Euro.

Its payment link feature supports merchants who do not have a storefront to accept payments by sharing the link with customers via email or social media.

Then there is its mobile application that lets users in Nigeria, Ghana or Kenya send and receive money. They can also create virtual cards and fund with them related currencies.

Then the Checkout solution, which works a lot like Checkout, allows international merchants to collect payments from Africa in local currencies.. And unlike Checkout or Fast, which only work with international payment methods, Clasha uses what Africans are accustomed to – bank account, card, USSD, M-Pesa and mobile money.

clash checkout, as is called, can do to integrate In any e-commerce platform, the company said. It has plugins for big-name e-commerce sites WooCommerce, OpenCart and BigCommerce and is set to sign an official partnership with BigCommerce, expanding its reach to more merchants globally.

with this For its pay game, Clasha is into logistics as well. Anuna claims that as Clasha connects the worlds of both payments and logistics, it is opening up the global e-commerce economy to consumers and merchants in Africa who are looking to scale up in Africa. Original.

“A lot of our merchants have told us, if we are going to be able to accept payments from Africa, we need a way Original Ship to Africa in less time and provide the best end-to-end logistics experience for our consumers. And that’s what we have done,” commented the CEO.

According to him, the logistics service helps African customers to handle their products from Europe or America in five to nine days Through partnerships with third-party logistics providers. On a lighter note, Clash’s deadline is quite plausible compared to the industry numbers of up to two weeks..

image credit: clash

Since Clasha relaunched in May after a few iterations, it has processed over 20,000 transactions and claims to have grown 366% month-on-month. Klasha earns revenue through sales commissions and subscriptionsE-tailers pay to use the platform Analytics to find out how their products are performing in different markets.

“For a lot of these retailers, this is the first time they have ever sold in Africa before. That’s why we offer a complete e-commerce suite for these retailers, as opposed to them using services that are not technology linked,” she said..

Clasha’s technology allows seamless cross-border transactions at a time when Africa is quickly Alison Lang Engel, a partner at Greycroft, said there is a growing need for both payment and logistics solutions for online commerce.

This is the third significant investment by the venture capital firm in Africa after betting on unicorn company Flutterwave and AZA Group – a fintech company founded and led by Elizabeth Rossiello.

Like Rossiello, 29-year-old Anuna had experience starting the industry Techstar supported clash. The chief executive worked at Amazon and Shopify in London and later started a logistics company in China. this was itHere, while driving FMCG exports to large wholesalers and suppliers in the UK and US, he Felt that merchants in China (Africa’s largest trading partner) needed more efficient ways to receive payments from Nigerian merchants.

Experience What has opened Anu’s eyes to the world of cross-border business and payments and has proved to be significant is how she has been able to raise venture capital as a single female founder..

Black women founders get 0.6% of global venture funding. There is no data to illustrate the situation with African female founders, but if you could paint a picture, it wouldn’t be a pretty one.

“As a female founder you will face many hurdles, such as dealing with [unnecessary] Trying to explain the market and my industry to investors before getting specifics and checks,” said Anuna, explaining how difficult it can be for a female founder in Africa to raise funds on the continent.

But Anuna believes investors are starting to wake up to support more female founders, especially in fintech, where recent startup and VC activity has been eye-catching..

Besides Greycroft, other investors include Seedcamp, Practical VC, Plug & Play, First Round VC, 2.12 Angels, Mila Capital, Berrywood Capital, AVG Basecamp Fund and Expert Dojo. Angel investors such as Joe Cross of Wise and Gumtree’s Michael Pennington also invested.

Clasha hopes to use the money to help retailers such as ASOS, Zara and H&M receive payments from African consumers. 10,000 p. with a customer base ofAngered in Nigeria, Ghana and Kenya, Clasha plans to expand to three more African countries before the year ends.

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