Cleva, a Nigerian fintech startup aiming to simplify cross-border banking for African individuals and businesses, has secured a $1.5 million pre-seed funding round. This investment, led by San Francisco-based 1984 Ventures (backed by Revv and Kyte), with participation from The Raba Partnership, Byld Ventures, FirstCheck Africa, and several angel investors, signifies a major vote of confidence in Cleva’s vision for the future of African finance.

Africa boasts a young and vibrant population, with a rapidly growing middle class and increasing digital adoption. However, cross-border financial transactions often remain complex and expensive, hindering the continent’s economic potential. Cleva’s platform addresses this challenge by providing individuals and businesses with a seamless way to send and receive international payments, access USD accounts, and manage their finances globally.

The Cleva Advantage

Cleva’s user-friendly platform offers several key benefits:

  • Simplified international payments: Send and receive money across borders with ease, eliminating the need for intermediaries and high fees.
  • USD accounts: Access US dollar accounts for holding funds, making online payments, and receiving international payments.
  • Transparent fees: No hidden charges or surprises. Cleva offers transparent and competitive rates for all transactions.
  • Secure platform: Built with robust security measures to protect user data and transactions.

The pre-seed funding will enable Cleva to further develop its platform, expand its user base, and establish strategic partnerships. The company plans to launch its full-fledged service in Q1 2024, focusing initially on the Nigerian market before scaling across Africa and potentially beyond.

“We are thrilled to have received this backing from such a renowned group of investors,” said [Founder Name], CEO of Cleva. “This funding will be instrumental in bringing our vision for a more inclusive and accessible financial landscape in Africa to life.”

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Cleva’s success highlights the growing potential of the African fintech sector. With its innovative solutions and focus on solving real-world problems, Cleva is poised to become a major player in shaping the future of cross-border banking in Africa and beyond.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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