Cleo ARR Hits $250M

Cleo, the AI‑powered personal finance assistant for Gen Z and millennials, has recently crossed an annual recurring revenue (ARR) of $250 million as of mid‑2025, with the CEO suggesting that $500 million ARR is “around the corner”. The fintech doubled its 2024 revenue from $65.9 million in 2023 to $135.7 million, delivering 136 million in annual revenue and now hitting the $250 million ARR milestone. Remarkably, the company achieved profitability in 2024, reducing pre‑tax losses from $16.1 million in 2023 to just about $0.7 million.

Cleo’s core product is its conversational, chatbot-based financial assistant that integrates seamlessly with users’ bank accounts via open banking. It engages through a personalized, meme‑infused style while delivering budgeting insights, proactive alerts, savings goals, credit‑building tools, and instant cash advances. This AI‑driven interface enables users to manage money in natural language, helping them avoid overdrafts, monitor spending, and access short‑term advances. The platform monetizes through a freemium subscription model and transaction fees—59% of revenue from subscriptions and 41% from cash advances and interchange fees from its credit‑builder card offerings.

On the company’s financials, Cleo has raised about $175 million in total funding across 11 rounds from investors such as Balderton Capital, LocalGlobe, and EQT Ventures, with its last disclosed valuation around $500 million at a prior financing round. User metrics include approximately 7 million total users with around 700,000 paying subscribers and 700,000+ paying customers as of late 2024, signaling strong engagement and ARPC at about $214 annually. Revenue growth has been outstanding—nearly 2× YoY growth pushing ARR toward half‑a‑billion, and gross margins improving significantly via high‑margin financial product upsells and increased AI engagement.