Clea – Pay foreign vendors easily
Cross‑border trade is booming in Africa, but paying suppliers abroad remains a headache. Nigerian startup Clea - Pay Foreign Vendors Easily has come out of stealth with a blockchain‑enabled platform that lets importers settle invoices in Naira while their overseas suppliers receive U.S. dollars. Users can choose instant or next‑day settlement, and every transaction is recorded on‑chain for transparency and reduced fraud.
In its pilot phase, the company processed $4M of imports across dozens of SMEs. Clea's revenue comes from transaction fees, and because the firm operates without holding customer funds, it avoids regulatory complexity.
CEO Sheriff Olayinka Adedokun cofounded the business with CTO Iyiola Osuagwu and COO Sidney Egwuatu. The trio wants to expand from Nigeria into other African trade corridors. The company is bootstrapped so far, but open to strategic investors who can help scale its corridor network.
Could simple, transparent payments unlock a new wave of African trade?
#fintechoftheday #crossborder
Register and become part of the FinTech Builders Community. Join fellow innovators and see the value of being part of our community!
