Cleo, a UK based personal finance chatbot business, has raised £65mn funding.
Cleo offers an AI-based chatbot which helps users manage their personal finances.
The round was led by European investor Sofina.
It brings Cleo’s valuation to $500mn.
What does this mean?
Cleo was founded in the UK but now has the US as its core market. It will use the new funding to increase its workforce.