Take for Otta.com
“The African e-commerce market is worth an estimated $25 billion, but is difficult to access. Customers want to make purchases from big international brands but payment and delivery options are limited. Likewise, African brands are limited in their ability to sell outside of the continent. Enter Klasha, a startup launched with the aim of making cross-border payments and fulfilment easy for Africa.
Klasha introduces a suite of services for merchants and buyers combined into a single API. This solution allows for African consumers to purchase goods from overseas using a virtual card and for merchants to make and receive payments in foreign or local currencies, making international commerce far simpler. Overall it is a service that has been taken up enthusiastically since its launch in 2021, gaining more than 170,000 active users and experiencing double digit month-on-month growth.
Klasha has raised funding in a seed round led by Amex Ventures in its first foray into African startups. It is rapidly scaling its operations, hiring new talent at all levels of the organization and expanding its services to more African countries. If it can bring the hundreds of millions of African digital buyers into the global marketplace it has an extremely bright future ahead.”