About Cleva
Cleva is a company based in San Francisco (United States) founded in 2023 by Philip Adama Abel and Tolu Alabi. It operates as a FinTech. Cleva has raised $1.5 million across 1 funding round from investors including 1984 Ventures, The Raba Partnership and Byld Ventures. Cleva offers products and services including USD Account and Virtual Card. Cleva operates in a competitive market with competitors including Wise, TransferGo, Remessa Online, CurrencyFair and Intermex, among others.
- Headquarter San Francisco, United States
- Founders Philip Adama Abel, Tolu Alabi
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Sectors
Financial Services
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Email
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$1.5 M (USD)
in 1 rounds
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Latest Funding Round
$1.5 M (USD), Seed
Jan 08, 2024
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Investors
1984 Ventures
& 4 more
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Employee Count
Employee Count
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Products & Services of Cleva
Cleva offers a comprehensive portfolio of products and services, including USD Account and Virtual Card. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
USD account is provided for non-US residents.
Virtual card is offered for online shopping worldwide.
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Funding Insights of Cleva
Cleva has successfully raised a total of $1.5M through 1 strategic funding round. The most recent funding activity was a Seed round of $1.5 million completed in January 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $1.5M
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First Round
First Round
(08 Jan 2024)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jan, 2024 | Amount | Seed - Cleva | Valuation | 1984 Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cleva
Cleva has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include 1984 Ventures, The Raba Partnership and Byld Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage venture capital fund
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Founded Year | Domain | Location | |
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Venture capital firm investing in tech sectors
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cleva
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Cleva
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cleva Comparisons
Competitors of Cleva
Cleva operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Wise, TransferGo, Remessa Online, CurrencyFair and Intermex, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cross-border remittances are enabled for individuals and businesses via apps.
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled for consumers and businesses.
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| domain | founded_year | HQ Location |
International payments are enabled online for consumers and businesses.
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| domain | founded_year | HQ Location |
Cross-border money transfers are enabled through CurrencyFair's platform.
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled for individuals and businesses.
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| domain | founded_year | HQ Location |
Provider of remittance services
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cleva
Frequently Asked Questions about Cleva
When was Cleva founded?
Cleva was founded in 2023 and raised its 1st funding round 1 year after it was founded.
Where is Cleva located?
Cleva is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Cleva?
Tolu Alabi is the current CEO of Cleva. They have also founded this company.
Is Cleva a funded company?
Cleva is a funded company, having raised a total of $1.5M across 1 funding round to date. The company's 1st funding round was a Seed of $1.5M, raised on Jan 08, 2024.
What does Cleva do?
Cleva is engaged in offering USD banking services tailored for non-US residents. A US-based dollar account is provided to facilitate receiving USD payments. Additionally, virtual cards are made available for online shopping globally. The company operates within the financial technology sector, emphasizing accessible digital banking solutions.
Who are the top competitors of Cleva?
Cleva's top competitors include Wise, TransferGo and Remessa Online.
What products or services does Cleva offer?
Cleva offers USD Account and Virtual Card.
Who are Cleva's investors?
Cleva has 5 investors. Key investors include 1984 Ventures, The Raba Partnership, Byld Ventures, FirstCheck Africa, and Y Combinator.