NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Tage Kene-Okafor

Lagos and San Francisco-based Klasha has received an additional $2.1 million to complete its $4.5 million seed round. The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by AMEX Ventures, the strategic investment group of American Express.

This investment is AMEX Ventures’ first in an African startup. The firm co-led the round with Global Ventures, the MENA-focused VC that has backed the likes of Tabby, Helium Health and Paymob. “I think the fact that AMEX is now investing in the continent, especially after investing in companies like Stripe, is really powerful,” said Klasha CEO Jessica Anuna to TechCrunch, adding that Global Ventures coming on board is also noteworthy for the company.

Investors from its first seed tranche such as Greycroft, Seedcamp, Plug and Play, Berrywood Capital and Breega doubled down.