New UK fintech Cleva launches money management platform for carers
New fintech start-up Cleva has launched a payments system for home care agencies that allows carers to handle expenses for clients using a single card.
The platform removes the need for cash and provides oversight of all spending. Every client is given a digital wallet which can be topped up and monitored by them and their family.
Purchases are made on behalf of the client by a carer using a Cleva Mastercard prepaid debit card and an app which allows them to select which client’s wallet they want to spend money from.
Cleva CMO Tom Bishop says: “The core business of care agencies is to look after their clients and dealing with petty cash means they have less time to do that.
“In particular, when looking after multiple people, the manual payment reconciliation alone creates piles of unnecessary admin.”
Bishop adds the fintech aims to “solve this issue” and save “time and hassle” for carers, allowing them to spend more time looking after the clients they care for.
Cleva provides the care agency with a web-based management system that allows full transparency and oversight of all payments and usage by the client, their family and the care agency.
The prepaid debit cards can also be activated and deactivated on the platform and payment restrictions prevent cards being used for gambling and adult services.