Charlie, a San Francisco, CA-based text-based AI chatbot helping people with their finances, secured $9m in Series A funding.
The round was led by Propel Venture Partners.
The company intends to use the funds to grow its team adding financial partners to assist in automating more aspects of an individual’s everyday financial life and expand its reach across the country.
Led by Ilian Georgiev, CEO and co-founder, Charlie is an AI assistant for people who don’t speak finance to save money, cut bills, take control of debt, and avoid fees via SMS text or Facebook Messenger.
Charlie has been used by nearly 250,000 mostly-millennial individuals since his 2016 launch. The majority of users are people typically underserved by fintech such as female (80%) and the average age is 27. Houston is the largest metropolitan area and Utah has the highest penetration of users.
The company is also backed by frog, Launchub Ventures, Norwest Venture Partners, Peterson Partners, and Uncork Capital.