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Cleva

YC W24

Lagos, NG · Founded 2023 · 30 employees · 12 known investors

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Cleva provides USD accounts and virtual USD cards for receiving international payments, with features including ACH/wire transfers, currency conversion, rewards programs, and point redemptions. The platform serves freelancers, remote workers, and small businesses seeking to receive payments from global clients and employers.

Also known as Cleva Technologies, Inc.

Crypto & Web3FintechCrypto / Web3Remote WorkEmerging MarketsNeobankUnited States of AmericaAmerica / CanadaFully Remote

Founders & leadership· Y Combinator alumni (W24)

Cleva was founded in 2023 by Tolu Alabi and Philip Abel.

TATolu Alabi
Tolu AlabiCo-Founder & CEOTolu Alabi previously led product management at Stripe, where she worked on issuing and banking products, and at Amazon, where she managed initiatives across logistics and augmented reality. She holds an MBA from Stanford Graduate School of Business and a B.A. in Computer Science and Mathematics from Grinnell College.
PAPhilip Abel
Philip AbelCo-founder & CTOPhilip Abel worked on infrastructure and services at AWS, Twilio, and Akamai Technologies. He holds degrees in computer science and engineering from MIT and Georgia Tech.

Investors · 12

Kairos Angelslisted by Kairos Angels

How we know: Kairos Angels's portfolio page · Y Combinator's founder network · Not right? Tell us

Newfund Capitallisted by Newfund CapitalParis · $250K – $2M

How we know: Newfund Capital's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us

Rainfall Ventureslisted by Rainfall VenturesSan Francisco · $100K – $1M

How we know: Rainfall Ventures's portfolio page · the VCSheet dataset · Not right? Tell us

The Raba Partnershiplisted by The Raba PartnershipCape Town · $50K – $5M

How we know: The Raba Partnership's portfolio page · Y Combinator's founder network · Not right? Tell us

Wayfinder Ventureslisted by Wayfinder VenturesSan Francisco · $300K – $1M

How we know: Wayfinder Ventures's portfolio page · Not right? Tell us

Y Combinatorlisted by Y CombinatorSan Francisco · $500K

How we know: the Y Combinator directory · open dataset · 5k.vc investor directory · Not right? Tell us

1984 Ventures Management, LlcreportedSan Francisco · $750K – $1M

How we know: a partner's Signal profile · Y Combinator's founder network · Not right? Tell us

Byld VenturesreportedSt. Albans · $10K – $250K

How we know: Y Combinator's founder network · Not right? Tell us

Invest With Passion FundreportedParis

How we know: Y Combinator's founder network · Not right? Tell us

Sequoia CapitalreportedMenlo Park · $100K – $50M

How we know: Y Combinator's founder network · Not right? Tell us

TLcom CapitalreportedNairobi · $500K – $10M

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

Funding

SEC filings, press & company announcements

$1.5M disclosed across 1 round · 2024

Source: company announcements and press reports — follow each round's link for the claim.

Related companies · 10

WiseWise is a financial platform offering international money transfers, multi-currency accounts, and debit cards with low fees and competitive exchange rates, serving millions of users globally.
KarsaKarsa offers business and personal banking services for companies across 50+ countries, providing multi-currency accounts, international payments, and corporate cards with support for ACH, wire transfers, SWIFT, SEPA, and stablecoin transactions.
KitaKita provides document processing and credit assessment software for lenders to evaluate borrowers in underserved markets. The platform handles paperwork and financial assessment behind lending, enabling banks, fintechs, and community lenders across Southeast Asia, Latin America, and the US to reach creditworthy borrowers locked out by manual processes.
PaasaPaasa is a digital wealth platform that enables global investing across US, Swiss, UK, and Hong Kong exchanges for Indian residents and non-resident Indians. It combines brokerage access with expert-built strategies, automated rebalancing, and tax optimization features.
ChaseA wealth management and investing service (J.P. Morgan Wealth Management via Chase) offering self-directed brokerage accounts with commission-free online trades as well as one-on-one advisor services, financial planning tools, and retirement accounts. It serves individual retail investors ranging from beginners to experienced investors in the United States.
WazaWaza provides a B2B global payments platform for emerging market businesses in Africa, LATAM, Asia, and the Middle East to send and receive cross-border payments. The platform simplifies international transactions and addresses challenges such as limited hard currency access and high transaction fees.
OuttalentOuttalent helps software engineers develop technical, communication, and career skills to secure jobs at companies and locations of their choice. The platform builds a supportive global community for engineers to learn and grow together rather than pursuing opportunities individually.
GreyGrey enables remote workers and freelancers to open foreign bank accounts and receive international payments in their local currency. The platform focuses on serving digital nomads and creators in developing economies with simplified cross-border payment solutions.
SoFiSoFi Technologies is a digital personal-finance company offering student and personal loans, mortgages, investing, banking and credit cards through one app; it went public on the Nasdaq in 2021 via SPAC.
RemitlyRemitly is an international money transfer service that enables customers to send money across borders to multiple countries.

Companies working in the same space as Cleva.

Legal entities · 1

corporate structure
Cleva Technologies, Inc.

In the news

How to fund your NGN Account on Clevagetcleva.com · Mar 2025Cross-border fintech stands out in Y Combinator’s Winter 2024 cohort | TechCrunchtechcrunch.com · Apr 2024Cleva: USD banking platform for Africaycombinator.com · Mar 2024YC-backed African fintech Cleva, founded by Stripe and AWS alums, raises $1.5M pre-seed | TechCrunchtechcrunch.com · Jan 2024

Frequently asked questions

What does Cleva do?
Cleva provides USD accounts and virtual USD cards for receiving international payments, with features including ACH/wire transfers, currency conversion, rewards programs, and point redemptions. The platform serves freelancers, remote workers, and small businesses seeking to receive payments from global clients and employers.
Who founded Cleva?
Cleva was founded by Tolu Alabi, Philip Abel in 2023.
Who are Cleva's investors?
Cleva's investors include FirstCheck Africa, Kairos Angels, Newfund Capital, Rainfall Ventures, The Raba Partnership, Wayfinder Ventures, Y Combinator, 1984 Ventures Management, Llc and 4 more.
How much funding has Cleva raised?
Cleva has disclosed $1.5M raised across 1 round.
Where is Cleva headquartered?
Cleva is headquartered in Lagos, NG.