Cleo, a London, UK-based digital assistant that supports people throughout their financial lives, from their first paycheque to their first home, raised $80 million in Series C funding.
The round was led by Sofina, which joins existing investors, including Balderton, EQT Ventures, and LocalGlobe.
Cleo will use the new funding to expand its headcount from 140 to over 220 and continue iterating and improving on its product suite.
Company: Cleo AI Inc.
Round: June 2022
Funding Month: Aug 2022
Lead Investors: Sofina
Additional Investors: Balderton, EQT Ventures and LocalGlobe
Company Website: https://web.meetcleo.com/
Software Category: AI-based monetary assistant
About the Company: Cleo is an AI-based monetary assistant that takes the form of an app and chatbot helping users with their finances. The company's platform allows to view spending according to transactions, categories, and merchants, as well as automatically send funds either via the Cleo app or Facebook Messenger without bank details, find deals on financial products, and compare spending habits with peers, enabling users to keep a track of their spending across multiple accounts and credit cards. Cleo AI was founded in 2016 and is based in London, England.