Cleva Analysis: $2M Raised

• ACH deposits:
  • Deposit fee: 0.9%
  • Minimum fee: $1
  • Maximum fee: $20
• Wire deposits:
  • Deposit fee: 0.9%
  • Minimum fee: $10
  • Maximum fee: $20

Cleva primarily focuses on the financial technology industry, specifically providing USD banking solutions, including the ability to open US-based dollar accounts and use virtual cards for online shopping.

Revenue model includes a 0.9% fee on deposits, capped at $20.

• 1984 Ventures
• Y Combinator
• Negma Group
• FirstCheck Africa
• BYLD Ventures
• Decacorn Capital
• Visa Africa Fintech Accelerator

Cleva operates in a niche market providing US-based dollar accounts and virtual cards for non-US residents. Its main competitors include:

1. LemFi:
   • Services: Offers multi-currency accounts and international money transfers. It is designed for immigrants and provides low fees for send