Personal finance chatbot business, Cleo, has raised $44bn in its latest funding round.
In Brief:
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The Series B round was led by EQT ventures.
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It included existing investors like Balderton Capital, LocalGlobe and SBI.
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Cleo uses AI to analyse spending habits and support users with money management.
What does this mean?
Interestingly, Cleo has asked its users how it thinks they should spend the capital raised – though one assumes the FinTech does already have a plan for most of the $44mn. The raise comes after Cleo grew its revenue by 400% last year.
