# Cleo

**Source:** https://geo.sig.ai/brands/cleo  
**Vertical:** Consumer AI Applications  
**Subcategory:** AI Financial Assistant  
**Tier:** Leader  
**Website:** meetcleo.com  
**Last Updated:** 2026-04-14

## Summary

AI financial assistant with 6M+ users and ~$186M revenue run rate; 743K paid subscribers; raised $175M total; launched Cleo 3.0 with voice and memory in Jul 2025

## Company Overview

Cleo is an AI financial assistant designed for millennials and Gen Z users who feel underserved or intimidated by traditional personal finance tools. Founded to make financial guidance accessible, honest, and personality-driven, Cleo uses conversational AI to help users track spending, build savings habits, access cash advances, and understand their financial behavior — delivered through a distinctly irreverent tone that resonates with younger audiences. The app sits at the intersection of fintech and consumer AI, treating financial wellness as an ongoing relationship rather than a one-time dashboard.\n\nCleo's product suite includes spending analysis, budget coaching, savings envelopes, credit-building tools, and a cash advance feature that has become a primary driver of paid subscription growth. The Cleo 3.0 platform introduced voice interaction and persistent memory, allowing the AI assistant to recall past conversations and financial history to provide genuinely personalized guidance over time. With 743,000 paid subscribers and more than 6 million total users, Cleo has demonstrated strong consumer willingness to pay for AI-powered financial coaching.\n\nCleo has raised $175 million in total funding and operates at approximately $186 million in annualized revenue. The company competes in the crowded personal finance app market against Mint, YNAB, and challenger banks, but has carved out a differentiated position through its AI-first voice, aggressive subscriber conversion, and deep focus on the cash-constrained young adult demographic. Its paid subscription growth trajectory and revenue scale signal a sustainable business model in a space where many consumer fintech companies have struggled to monetize.

## Frequently Asked Questions

### What does Cleo do?
Cleo is an AI chatbot that helps users manage finances through spending analysis, budgeting, credit building, and cash advances, targeting Gen Z and millennials with a conversational interface.

### How many people use Cleo?
Cleo has over 6 million users with 743K active paid subscribers, generating approximately $186M in annual revenue run rate.

### What is new in Cleo 3.0?
Cleo 3.0 launched July 2025 with two-way voice conversations, long-term memory of your financial history, and advanced reasoning powered by OpenAI's latest model.

### What is Cleo?
Cleo is an AI-powered financial assistant app that uses conversational AI to help users manage their budgets, track spending, build savings, and access cash advances — targeting younger adults who want a more engaging, personality-driven money management experience.

### How much has Cleo raised?
Cleo has raised over $130M from investors including EQT Ventures, Balderton Capital, and Sofina, serving millions of users primarily in the US and UK with its AI financial coaching app.

### What is Cleo's Roast mode?
Cleo's Roast mode is a viral feature where the AI humorously critiques users' spending habits with sarcastic commentary, driving massive social sharing and organic growth — part of Cleo's strategy of making personal finance entertaining rather than stressful.

### Does Cleo offer cash advances?
Yes, Cleo offers cash advances of up to $250 with no interest for eligible users, providing a fee-based alternative to predatory payday loans for users who need short-term liquidity between paychecks.

### How does Cleo make money?
Cleo earns revenue through its Cleo Plus subscription (£5.99/month) that unlocks cash advances and premium features, interchange fees from its debit card, and credit-building products — a freemium model with a paid tier for users who want financial safety nets.

## Tags

ai-powered, b2c, saas

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*