The Y Combinator-backed Nigerian fintech startup has reportedly raised $1.5 million in pre-seed funding. Tolu Alabi, the CEO of Cleva, expressed confidence in her and fellow co-founder Philip Abel’s ability to navigate the competitive fintech market, citing their background as a factor that counts in the startup’s favor.
Cleva Founders ‘Uniquely Qualified’
Nigerian fintech startup Cleva has raised $1.5 million in a pre-seed funding round backed by the U.S. technology startup accelerator Y Combinator. The early-stage venture capital firm, 1984 Ventures, led the round with the participation of The Raba Partnership, Byld Ventures, Firstcheck Africa, and several angel investors.
According to a Techcrunch report, the funding is expected to help the fintech startup build a banking platform that enables both individuals and businesses to receive international payments. Aaron Michel, a partner at 1984 Ventures, expressed confidence in Tolu Alabi and Philip Abel’s stewardship of the
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