Cleo, the world’s first AI financial assistant, launched its most advanced version, Cleo 3.0, on July 29, 2025, introducing two-way voice conversations, long-term memory, and advanced reasoning powered by OpenAI’s latest model. This upgrade, announced in London, transforms Cleo from a chatbot into a human-like money coach, offering personalized, 24/7 financial guidance that rivals services once exclusive to the wealthy. With over 6 million users and $250 million in annual recurring revenue (ARR), Cleo is redefining financial management for Gen Z and millennials.
Cleo 3.0 launches with two-way voice, long-term memory, and advanced reasoning.
Integrates with bank accounts via Plaid for real-time financial insights.
Targets 1 million paid subscribers in 2025, with ARR exceeding $250 million.
Users engage 20x more than with traditional banking apps, per company data.
Backed by $138 million in funding from Balderton, EQT, and Sofina.
Focuses on behavior change, not just balance tracking, with a sassy, humorous tone.
Cleo 3.0’s Real Conversations feature uses text-to-speech and conversational AI to deliver advice with personality, making financial coaching feel natural and engaging. “Most people can’t afford expert financial guidance—but everyone deserves it,” said Barney Hussey-Yeo, Cleo’s Founder and CEO. The Dynamic Memory capability allows Cleo to remember users’ goals, habits, and financial history, ensuring increasingly tailored advice. Advanced Reasoning, powered by OpenAI’s latest model (optional upgrade), simplifies complex financial decisions into actionable steps based on spending patterns.
Unlike traditional banking apps, Cleo 3.0 emphasizes behavior change through features like budgeting, savings goals, credit building, and cash advances up to $100 with flexible repayment. Its “Roast Mode” humorously critiques overspending, while “Hype Mode” celebrates financial wins, resonating with its 18-36-year-old user base. Cleo’s integration with over 600 banking institutions via Plaid enables real-time expense tracking and personalized insights. Over 85% of new users report feeling better about their finances within a month, and engagement is 20x higher than typical banking apps.
Cleo, founded in 2016 by Barney Hussey-Yeo, has scaled to a 300+ person team across London, New York, and San Francisco, with $138 million in funding from investors like Balderton Capital and Sofina. The company achieved net profitability with a $186 million exit run-rate and doubled its revenue and subscribers in 2025, reaching $250 million in ARR. Cleo is on track to surpass 1 million paid subscribers this year, driven by its Plus and Builder subscription tiers, which offer premium features like credit scores and cashback.
Cleo’s conversational AI, built on advanced NLP and machine learning, sets it apart in the $209.7 billion fintech market, projected to reach $644 billion by 2029. Its focus on open banking and user-centric design positions it to compete with apps like YNAB and Chime, while its irreverent tone and activism, such as the “Random Acts of Relief” campaign, appeal to younger users. Cleo’s planned UK re-launch in 2025, after focusing on the U.S. since 2020, signals global ambitions to reach 1 billion users.
Cleo 3.0’s launch marks a pivotal step in democratizing financial coaching, leveraging AI to deliver scalable, engaging, and secure solutions. With robust growth and a unique blend of humor and expertise, Cleo is poised to redefine personal finance for a generation.
Cleo is the world’s first AI financial assistant who transforms the complexity of money into simple, honest conversations. With a unique blend of predictive intelligence and human understanding, Cleo is building a future where smart financial decisions are within everyone’s reach.
Cleo speaks like a friend but with expert-level insights. She remembers spending patterns, predicts needs, and delivers radically personalized guidance through budgeting, saving, credit-building, and intelligent money coaching. Cleo normalizes money conversations and is available 24/7—because understanding your finances shouldn't require a finance degree.
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