Cleva
USD banking for African freelancers, remote workers, and agencies
What it does
Cleva was founded in 2023 by Tolu Alabi and Philip Mbagwu to provide USD banking infrastructure for African freelancers, remote workers, and businesses. The platform enables non-US residents to open digital US bank accounts to receive international wire deposits seamlessly. Backed by Y Combinator, Cleva addresses major foreign exchange receiving challenges across Africa.
Multi-currency accountsCross-border B2B paymentsDiaspora remittances
Known for
- Y Combinator-backed USD banking platform
- US bank accounts for African freelancers
- International wire transfer reception
- Cross-border FX settlement platform
Model & industry
SaaSAll / Cross-industry
Funding history
$3.5M
Total raised
3
Rounds
Pre-seed
Latest stage
2024
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2024-01 | Accelerator | $500K | Y Combinator |
| 2024-01 | Pre-seed | $1.5M | 1984 Ventures |
| 2024-01 | Pre-seed | $1.5M | 1984 Ventures |
Source: Condia Funding Tracker
Products & subsidiaries
Cleva USD Account · U.S. Virtual Bank AccountCleva Virtual Dollar Card · Virtual Card