Cleva provides a US‑dollar‑denominated account that lets freelancers, remote workers, and businesses receive ACH or wire payments globally without opening a US bank. Users can hold, convert, and spend USD via a virtual card, enjoy free instant transfers to other Cleva users or local banks, and earn cashback points, all backed by licensed US financial partners and FinCEN‑registered compliance.
Funding
$1.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
4OFounders
Product
Problem
Individuals and businesses in countries with limited access to US dollar banking services often face high fees, slow transfers, and currency conversion hurdles when receiving payments from abroad. This creates financial friction for freelancers, remote workers, and companies that need to transact globally in USD.
Solution
Cleva offers a US-dollar‑denominated account that can receive ACH and wire payments from any source worldwide, without opening a US bank. Users can hold, convert, and spend USD through a virtual USD card, with instant issuance and no transaction fees for transfers to other Cleva users. The platform provides free local withdrawals, competitive exchange rates for converting USD to local currencies, and a points‑based cashback program. All funds are processed by licensed US financial partners and the service complies with FinCEN MSB regulations, ensuring security and transparency. The mobile app and web interface give 24/7 access, real‑time notifications, and tools for tracking balances and transactions.
Target Audience
Cleva serves freelancers, remote employees, and small to medium businesses that need to receive and spend USD internationally, as well as larger enterprises seeking a compliant, borderless payment solution.
Features
- Receive global USD payments via ACH or wire directly into a Cleva USD account
- Free, instant transfers between Cleva accounts and to local bank accounts
- Virtual USD card issued instantly for online spending in USD without currency conversion
- Competitive, real‑time exchange rates for converting USD to local currencies
- Cashback rewards (Cleva Points) redeemable for USD on every transaction
- Secure processing through US‑licensed financial partners and FinCEN‑registered MSB compliance
- Real‑time notifications and a mobile/web dashboard for balance and transaction management