What is Cleo?
Founded in 2016, Cleo addresses the complexities of personal finance by offering an AI assistant designed to simplify financial management for users. The company's core offering involves an engaging and trustworthy AI that provides personalized financial advice and products, aiming to prioritize user interests over those of traditional financial institutions. Cleo's innovative approach transforms intricate financial data into conversational insights, positioning it as a disruptive force in the fintech landscape.
How much funding has Cleo raised?
Cleo has raised a total of $137.3M across 5 funding rounds:
Angel/Seed
$700K
Angel/Seed
$2.6M
Series A
$10M
Series B
$44M
Series C
$80M
Angel/Seed (2017): $700K, investors not publicly disclosed
Angel/Seed (2017): $2.6M led by LocalGlobe
Series A (2018): $10M supported by Balderton Capital
Series B (2020): $44M featuring LocalGlobe, Balderton Capital LLP, SBI, and EQT Partners Inc
Series C (2022): $80M backed by Sofina
Key Investors in Cleo
LocalGlobe
LocalGlobe is a venture capital firm that invests in early-stage companies, often participating in seed rounds to support foundational growth.
Balderton Capital LLP
Balderton Capital LLP is a prominent European venture capital firm specializing in early-stage technology investments, known for backing high-growth companies through their scaling phases.
Sofina
Sofina is a private equity and venture capital firm with a focus on growth capital and investments across various stages, particularly in companies undergoing digital transformation.
What's next for Cleo?
With a significant enterprise-level funding context and a recent major strategic investment, Cleo is poised for accelerated growth. This capital will likely be directed towards enhancing its AI capabilities, expanding its user base, and potentially exploring new market opportunities. The company's trajectory suggests a focus on scaling its operations and solidifying its position as a leader in AI-powered personal finance, leveraging its unique conversational interface to drive user engagement and retention.
See full Cleo company page
