8 years ago

Cleo Raises €2.2 Million to Help Millennials Manage Finances with AI Chatbot

  • Cleo, a London-based fintech startup, has raised €2.2 million in a Series A funding round led by Robin Klein of LocalGlobe

  • The funding will be used for product development, team growth, and international expansion

  • Cleo's AI-powered chatbot helps millennials manage their finances by connecting to their bank accounts and providing insights into their spending

  • The app has shown high engagement and retention, with over 70% of users engaging with it regularly three months after signing up.

      • ProblemFinancial Services

      "Millennials are frustrated with traditional banking software that is unable to cater to their needs for instant responses and real-time interaction. They struggle to understand where their money is going, save money easily, or send money to friends instantly."

      Solution

      "Cleo is an AI-powered chatbot that connects to your bank accounts and provides insights into your spending, helps you save money, and allows you to send money to friends instantly through a familiar interface."

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