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UK-based Cleo secures GBP 33.2 mln funding

Monday 14 December 2020 15:00 CET | News

Fintech Cleo has obtained GBP 33.2 million in a Series B funding round to develop its app designed to assist Gen-Z in terms of finance, according to uktech.news.

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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Keywords: Cleo, fintech, EQT Ventures, funding, Gen Z, financial industry, app, digital platform, Gen-Z, finance, banking, paycheck, UK
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech