Both promise to solve the same problem receiving dollar payments from international clients without the headaches of Payoneer or traditional Nigerian banks. Both have YouTube videos, X testimonials, and marketing claiming theirs is the best.
So which one should you actually choose?
Here's my honest take as a beginner Nigerian freelancer who picked Raenest. I'll tell you why I made that choice, what Cleva offers that's worth considering, and how to decide for yourself.
A note before I start: I haven't personally used Cleva. I went straight to Raenest after Payoneer failed me. This isn't a comprehensive, technical review of both platforms. It's the honest reasoning of one Nigerian beginner trying to make the right choice and what I've learned researching both since then.
Why I chose Raenest (without ever trying Cleva)
The truth is, I didn't compare them. Payoneer blocked me because of the NIN-SIM linking issue, and Raenest was the first alternative I'd heard of. Multiple content creators on X and YouTube had mentioned it. So I researched it, signed up, got verified in under 20 minutes, and started using it.
I had not even heard of Cleva at that point.
That's not a great reason to choose a platform. It's just what happened. And it's a common pattern for Nigerian beginners we don't compare; we go with whatever first works.
What Raenest has been good for
Speed of signup: under 20 minutes, only needed my NIN. No SIM-linking issue.
Multi-currency support: USD, GBP, and EUR accounts. Useful if you ever work with UK or European clients.
Recently became official: Raenest holds an IMTO licence from the Central Bank of Nigeria, which means it's properly regulated.
Mobile app: clean and easy to use.
What I now know about Cleva (after research)
Cleva is backed by Y Combinator (the same accelerator that has launched some of the world's biggest tech companies). It's run by founders who used to work at Stripe and AWS. That's serious technical pedigree.
The main things Cleva pushes:
Zero fees on Upwork deposits throughout 2026 — this is huge if your clients are on Upwork
Zero conversion fees when converting USD to Naira
Zero withdrawal fees to your Nigerian bank
Cleva Points rewards programme
Supports stablecoins (USDC, USDT)
The trade-offs:
- USD only — no GBP or EUR accounts (Raenest beats them here)
- $3 deposit fee for amounts above $300 (Raenest charges $1)
- Smaller team, newer platform
The honest truth: it depends on your situation
Here's where I have to be careful not to pretend I know more than I do. Both platforms have real users and real complaints. I've seen Nigerians on X tweeting frustration with Raenest. I'm sure the same exists for Cleva.
But here's a practical framework based on what I've researched:
Choose Cleva if:
- You're on Upwork and want to skip deposit fees this year
- You only need USD (not GBP or EUR)
- You like the idea of a rewards programme
- You want to receive stablecoin payments (crypto)
Choose Raenest if:
- You need multiple currencies (USD, GBP, EUR)
- You bill clients above $300 regularly (the $1 deposit fee is cheaper than Cleva's $3)
- You're on Fiverr like me, where neither has a special advantage
- You want to use the FastTrack feature that gets Upwork payments in 1 hour instead of 3-5 days
My honest recommendation for beginners
I'm not going to tell you which one is "best" — because honestly, the differences are smaller than the marketing makes them sound. Here's what I will tell you:
Choose the one that fits your situation now. If you're on Upwork, Cleva's free deposits this year is genuine money saved. If you're on Fiverr like me, Raenest is solid.
Do your own research before signing up. Read recent reviews on X. Check both platforms' current fee pages. Things change quickly in Nigerian fintech.
Don't overthink it. Whichever you choose, you can always open the other later. They're both free to sign up, and you don't have to pick forever.
What I plan to do: now that I know about Cleva, I'll open an account too, just to see how it compares to Raenest. If I find anything important, I'll write a follow-up post.
Why I'm writing this honestly
Most "Cleva vs Raenest" articles you'll find online are written by Cleva or Raenest themselves. They're not neutral. They're selling their own product.
I have no affiliate deal with either platform. I'm just a Nigerian beginner trying to figure this out alongside you. If anyone tells you they've got the perfect answer to which platform to choose, be sceptical because the answer depends on details that are different for every freelancer.
If you've used either platform and have an honest opinion, I'd love to hear it. Drop a comment, or message me through the contact page. Real Nigerian experiences are more useful than marketing pages from either company.
If you haven't picked yet, here's my last word: stop reading comparison articles, pick the one that feels right based on your situation, sign up, and start using it. The platform you pick matters less than the work you do to get paid in the first place.
I'm David. Still figuring this out, one honest post at a time.