About
Cleo is an AI financial assistant targeting Gen Z users living paycheck-to-paycheck. Hit $136M revenue in 2024 (doubled YoY) with 8.4% EBITDA margin and profitability from Aug onwards. 5M+ users, 74M conversations in 2024 (2.5x YoY). Raised $175M total at $500M valuation. Revenue nearly 100% from US. Monetizes via subscriptions unlocking credit-builder card and cash advances. CEO teasing IPO.
Key Facts
- [1]Founded: Founded in 2016 in London, United Kingdom.
- [2]Funding: Total funding: $175M. Last round: Mar 2025. Stage: Late Stage.
- [3]Employees: Employee count: 201-500.
- [4]Website: Official website: meetcleo.com.
- [5]AI Technology: Core AI/ML technologies: LLM / NLP.
- [6]Region: Region: EMEA (United Kingdom).
Founder
Barney Hussey-Yeo
Founder & CEO
AI Technology
LLM / NLP
Large language models for NLP, chat, document understanding, and text generation
Classification
Market Segments
Tech Stack Layers
Details
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Frequently Asked Questions
What is Cleo?
Cleo is an AI financial assistant targeting Gen Z users living paycheck-to-paycheck. Hit $136M revenue in 2024 (doubled YoY) with 8.4% EBITDA margin and profitability from Aug onwards. 5M+ users, 74M conversations in 2024 (2.5x YoY). Raised $175M total at $500M valuation. Revenue nearly 100% from US. Monetizes via subscriptions unlocking credit-builder card and cash advances. CEO teasing IPO. Cleo is classified in the Enterprise Finance segment at the Automation layer of the financial AI stack.
Who founded Cleo?
Cleo was founded by Barney Hussey-Yeo (Founder & CEO) in 2016 in London, United Kingdom. The company has been operating for 10 years.
How much funding has Cleo raised?
Cleo has raised $175M in total funding, placing the company at the Late Stage stage. The most recent round closed in Mar 2025. Among 79 funded Enterprise Finance companies, Cleo ranks #22 by total capital raised. (Source: AIFI Map directory.)
What AI technology does Cleo use?
Cleo primarily leverages LLM / NLP technology. Large language models for NLP, chat, document understanding, and text generation. Within the Enterprise Finance segment, 17 companies use this technology.
What market segment does Cleo operate in?
Cleo operates in the Enterprise Finance market segment. AI enterprise finance companies are automating and enhancing the financial operations of businesses — from accounting and treasury management to financial planning, analysis, and corporate finance.
Where is Cleo headquartered?
Cleo is headquartered in London, United Kingdom. The company operates in the EMEA region. The team consists of 201-500 employees. United Kingdom is home to 33 financial AI companies tracked by AIFI Map.
Who are Cleo's competitors?
Companies similar to Cleo in the Enterprise Finance space include Greenlite ($20M raised), Trumid ($722M raised), Pibit.ai ($8M raised), Puzzle ($67M raised), Pilot ($222M raised). These companies operate in related areas of financial AI: Greenlite focuses on ai agents that accelerate aml reviews. Trumid focuses on ai-powered fixed income trading platform. Pibit.ai focuses on agentic underwriting platform for carriers. (Based on AIFI Map classification data.)
What products does Cleo offer?
Cleo builds automation-layer solutions for the financial services industry. The company's core offering: AI financial assistant for Gen Z. The platform is powered by LLM / NLP technology.