Cleva
YC-backed USD accounts for Africans.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — MSB registration (FinCEN); USD accounts via licensed FDIC-insured US partner banks.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Cleva’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · freelancers & creators |
| HQ | Lagos, NG |
| Founded | 2023 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | MSB registration (FinCEN); USD accounts via licensed FDIC-insured US partner banks |
| Card | Visa · Virtual USD cards |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Founders | Tolu Alabi, Philip Abel |
| Funding | YC-backed |
Verified links: official site ↗
Common questions about Cleva
What is Cleva?
Cleva is a fiat neobank built for freelancers & creators, headquartered in Lagos, NG and founded in 2023. Your money is held custodially, so Cleva or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (MSB registration (FinCEN); USD accounts via licensed FDIC-insured US partner banks).
Does Cleva have a card, and where can you use it?
It issues a Visa virtual usd cards. It is available in Africa.
Does Cleva require KYC?
Yes. Cleva requires identity verification (KYC) to open an account, as a partner-bank model.
Head-to-head
Peers
Wise · TymeBank · OPay · PalmPay · Bank Zero · Discovery Bank
Cleva appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in Africa (92) · Neobanks for freelancers and creators (15) · Neobanks that issue a Visa card (182) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.