Cleo, the AI-powered financial assistant, has unveiled its most advanced version to date, Cleo 3.0, introducing two-way voice conversations, long-term memory, and enhanced reasoning capabilities. These features aim to provide users with a more personalized and intuitive financial management experience.
Founded in 2016, Cleo has experienced significant growth, particularly in the U.S. market, where it has attracted a substantial user base. The company offers a range of services, including budgeting tools, credit-building assistance, and cash advances, all designed to help users manage their finances more effectively.
In 2025, Cleo reported a substantial increase in annual recurring revenue, reflecting its expanding influence in the fintech sector. The company continues to focus on innovation and user engagement, striving to make financial management more accessible and user-friendly for a diverse audience.
Despite its successes, Cleo has faced challenges, including a settlement with the Federal Trade Commission over allegations related to its cash advance product. The company has taken steps to address these issues and remains committed to providing transparent and ethical financial services.
Looking ahead, Cleo plans to further enhance its product offerings and explore new markets, aiming to continue its trajectory of growth and innovation in the financial technology industry.