As Generation-Z is growing in buying power, the financial industry is being reinvented. They rely on technology to budget, invest their money, and banking as well. The Series B funding was led by EQT Ventures with participation from existing investors Balderton Capital, LocalGlobe, and SBI. With this funding, they join the existing roster of angel investors.
The company is planning to use the funding to improve credit, build personalised spending plans to stabilise financial safety nets, and stop the paycheck to paycheck cycle. Cleo will further the US expansion as it continues to make leadership hires in the Bay Area.
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