Nigerian fintech startup Klasha announced that it has received a $2.1 million investment as part of a seed round that started last year. One of its new investors is American Express Ventures, the investment arm for American Express (Amex), one of the top four credit card networks in the world, for whom this is a first investment in an African startup. In doing so, Amex joins Visa and Mastercard who have been in Africa’s fintech scene since 2018. That year, Visa participated in Paystack’s $8 million series A round while Mastercard invested in Flutterwave. Klasha provides several services at the intersection of payments and e-commerce. Among them is an app (only available in Nigeria, for now) for individuals to create a virtual dollar card to pay for services like a Spotify subscription. Then there is a checkout feature for retailers outside of Africa that allows their African customers to pay in currencies like the naira and shillings, using bank cards or mobile money.
SOURCE: QUARTZ AFRICA
More Stories
How to Experience Lagos and Parts of Nigeria
From Former Refugee to Travel Fundi
Living Wild in Zambia’s National Park
A Traveller’s Guide to the Kgalagadi Transfrontier Park
Rwanda is Home to Many other Thrilling Species – If you Know Where to Look
Akwasi Brenya-Mensa on Tatale: “My Work is About What African Cuisine Will Look Like in 30 to 50 Years’ Time”
Behold ‘The Woman King’: Viola Davis as a Real-Life Warrior General
10 Questions With… Nfemi Marcus-Bello
Meet the Ghanaian Author Documenting the History of African Designers
Beyoncé Has Helped Usher in a Renaissance for African Artists
Angola’s Privatisation Campaign is an Experiment
Trouble in Abuja’s Airspace