Led · Series A · Jun 2024

Elevate began in Sudan and pivoted from a Pan‑African neobank to a USD-focused fintech for freelancers and remote workers in emerging markets. It offers U.S.-based USD accounts with ACH capability, low-cost FX transfers, and card rails via a sponsor bank relationship to simplify receiving payments from platforms like Upwork, Fiverr and Deel. The company partners with Bangor Savings Bank and moved from a Visa to a Mastercard network after its product and partner changes. Elevate monetizes through net interest income, FX margins and card interchange, and plans to add savings and investment products in the coming months. Since relaunching in its new markets it has signed up over 150,000 users, says the company. Management reports it has run lean, spent roughly $2 million since inception and is nearing profitability.