The Series B round was led by EQT Ventures with backing from several existing investors and angels.
"We’re building Cleo to become the financial advisor that a billion people need. One that talks to you like a real person, able to build trust and relationships like a bank never could,"
The funding was secured with support from Angel Investment Network to advance product and technology development.
"We’re obsessed with shoppers getting their best deal – whatever that means to them. We’ll achieve this by solving two fundamental issues in online shopping. Firstly, we want to give shoppers the complete view of all of their buying options so that they can make purchase decisions based on their values. Secondly, we’ll make it easier for shoppers to find new products whilst, in parallel, leveraging our two-sided marketplace to act as a conversion enabler to close the gap between shoppers and retailers with significant revenue upside and ability to scale."
The online ticketing platform has raised £750k in a seed follow-on round to scale its engineering and sales operations.
"This year has been a challenging one as a result of covid and restrictions placed on live events, however it has also encouraged the business to react and innovate. This initially allowed us to stabilise our revenue and has also unlocked a huge opportunity in online and hybrid events."
The funding round was led by NPIF, Maven Equity Finance with support from the Future Fund and Charles Sharland.
"Since bringing our product to market, we’ve seen an incredible demand for our services that has only accelerated, despite the current economic climate."