Cleo, a London, UK-based AI-powered chatbot for people to manage their finances, raised £550k in angel funding.
Backers included Niklas Zennström, Jason Goodman, Alex Chesterman, Siraj Khaliq, Errol Damelin, Simon Franks and Wendy White and Joe White.
The company intends to use the funds to continue to develop the platform, and grow its user base, both in the UK and internationally, later in 2017.
Co-founded by Barney Hussey-Yeo, CEO, and Aleksandra Wozniak, CTO, Cleo works in connection with Facebook Messenger, Amazon Alexa and Google Home to inform users about their personal finances, whether it’s smart budgeting, spend tracking, deep insights, or financial advice.
When asked, the chatbot suggests a budget based on users’ finances. It auto-categorizes transactions, bills and direct debits, and presents it to people in a beautiful and easy to understand way.
The company was born in early 2016 at Entrepreneur First, an accelerator for technical talent.