Cleo
AI personal finance assistant
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Company mission
To help millions of people improve their financial health, and relate to them in a way their banks never could.
Employees
201-500
HQ Location
London, UK
OTTA INSIGHTS
Some candidates hear
back within 2 weeks
43% female employees
24% employee growth in 12 months
Otta's take on Cleo
Sam Franklin
CEO of Otta
People are increasingly not satisfied with the products being offered by traditional banks, which have proven slow to react to the needs of younger consumers who expect more from their everyday experiences.
Cleo was one of the first companies to make great use of chatbots that sit within Facebook's messenger app. This chatbot-first approach and Gen Z user base have given it strong virality. It now has 4m registered users, 99% of which are based in the US, leading to a decision to take a year break from the UK market to focus on its US Gen Z customers.
Its Series C funding will help the company to double down in the US, where it will make a significant increase in employee headcount, and enable Cleo to maintain and expand its service during an economic downturn.
Financial advice delivered via bots is a crowded space, so Cleo benefits from having a strong brand presence. It has gone for very bold, fun, Gen Z-focused messaging which helps it to stand out from competitors such as Emma, Plum, and Chip.
Total funding - $137.5m
Last 2 fundraises
Dec 2020
$44m
SERIES B
Jun 2022
$80m
SERIES C
This company has top investors
Company benefits
- 25 days of Annual leave a year + public holidays (+ an additional day for every year you spend at Cleo)
- 401k matching in the US and 6% employer-matched pension in the UK
- Online courses, £150 annual budget & internal training to level up your skills
- Regular socials and activities, online and in-person
- Online mental health support via Spill
- 1 month paid sabbatical after every 4 years with Cleo
- OpenAI Plus subscription
- Electric vehicle salary sacrifice scheme and cycle-to-work scheme
- Life assurance and income protection via AIG
- Medical insurance via Axa and Healthcare cash plan via Medicash
- Performance reviews every 8 months. Generous pay increases for high performers and high-growth team members. Equity top-ups for team members getting promoted
Company values
- Make it Happen
- Learn at Speed
- Bring Good Vibes
Articles
Founders
Barnaby Hussey-Yeo
(CEO)Data Scientist at Wonga, one of the companies that pioneered the smart use of data for loan decisions. Joined Entrepreneur First where Cleo was formed.
People progressing
Joined Cleo straight from Makers Academy in 2018, and became Technical Lead in 2021.
Diversity & Inclusion at Cleo
Annie Jackson (Head of Talent )
- We’ve set up an internal committee of truly passionate people that are dedicated to ensuring Diversity and Inclusion is embedded in how we all operate as a team. We agree on meaningful actions, and get on with implementing them. We have three main focuses right now, which are:
- 1) Improving SocioEconomic diversity across the company
- 2) Increasing the number of women in Leadership roles
- 3) More community outreach
- Check out our 2022 Diversity and Inclusion report, here: https://web.meetcleo.com/blog/cleo-diversity-equity-and-inclusion-report-2022
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