TLDR:
- Nigerian fintech company Cleva has raised $1.5 million in pre-seed funding in a round led by 1984 Ventures.
- The funding will be used to develop Cleva’s banking platform that allows African individuals and businesses to receive international payments by opening USD accounts.
- Cleva plans to expand its services outside of Nigeria in the future.
- The company plans to generate revenue through fund exchanges, fees on deposits, and by launching new products such as USD cards and US asset savings accounts.
- Long-term, Cleva aims to become a platform issuing APIs that supports its services across other African countries and globally.
Nigerian fintech company Cleva has raised $1.5 million in pre-seed funding led by 1984 Ventures. Other participants in the funding round include The Raba Partnership, Byld Ventures, FirstCheck Africa, and angel investors. Cleva aims to develop a banking platform that allows African individuals and businesses to receive international payments by opening USD accounts. The company plans to expand its services outside of Nigeria in the future. Cleva generates revenue through fund exchanges and fees on deposits, but plans to launch new products such as USD cards and US asset savings accounts. The company eventually aims to become a platform issuing APIs that supports its services across other African countries and globally.
