Gen-Z focussed financial assistant Cleo has raised $44m (£33m) in Series B funding to further expand in the US.
Cleo reports 400% revenue growth in the last year. 96% of its 4m users are US-based.
Founded in London by Barney Hussey-Yeo, Cleo gives its users insight into the data needed to make better financial decisions.
Its chat-based assistant uses financial data and natural language to create a casual, conversational tone while providing financial guidance.
The app offers insights about a user’s financial life and the data needed to make better financial decisions.
“We’re building Cleo to become the financial advisor that a billion people need. One that talks to you like a real person, able to build trust and relationships like a bank never could,” said Hussey-Yeo.
“The work we do at Cleo has never been more urgent. This crisis has been devastating to the generation we serve. They’re facing true financial hardship with no one to turn to.
“I’m delighted that EQT Ventures decided to join us on our mission to fight for the world’s financial health and looking forward to putting this capital to work.”