Cleva, a Nigerian fintech startup that solves the problem of opening dollar accounts and receiving international payments in Africa, has completed a $1.5 million pre-seed investment round led by 1984 Ventures to develop new products and expand its revenue model. Cleva was founded by Tolu Alabi and Philip Abel. The startup enables users to open a bank account in the US and receive dollar payments from dollar customers, investors, employers or platforms such as Amazon, Deel, Upwork.
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Cleva
Cleva is a Y Combinator alumni startup that first introduced its financial solution to the Nigerian market. The startup also allows users to convert dollar payments into local currency and transfer them to their bank accounts. Cleva charges 0.9 per cent commission for money investment transactions in users' dollar accounts. The startup aims to offer new products that will allow users to prepare professional invoices and make international dollar transfers.
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