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 grant comes from Innovate UK through the Sustainable Innovation Fund.
"Fixed schedules lead to static groupings of the same people in the same office at the same time. A company’s culture is the mix of all its people, not just those in the office on Mondays. Catering for flexible working practices will not only maximise staff interactions remotely and physically but create a more equal playing field for a diverse workforce. We can’t sleepwalk into a situation where employees who are less present in the office or work on different days to other key stakeholders, miss out on opportunities. It will lead to the people who are remote most often or on fixed days getting promoted less or being overlooked."
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."